NewStats: 3,262,013 , 8,175,868 topics. Date: Saturday, 31 May 2025 at 02:30 PM 5o73w

The presidential candidate of the Peoples Democratic Party, PDP, in the 2019 election, Alhaji Atiku Abubakar, has made a move to stop the government of President Muhammadu Buhari from collecting more loans from China.

In doing this, the former Vice President has written Ahmed Lawan, the President of the Senate requesting the National Assembly to reject any new loan request from the Buhari government meant for “projects that are not viable.”

Atiku, in the letter to Lawan, received on August 25, urged the legislature to also halt approval for loans that are not income-generating or production-based.

The former VP and business mogul pointed out that the country risked insolvency if it continued to borrow money.

Atiku’s letter, a copy of which was made public on Monday, he noted that Nigerians should not fold their hands and watch while the country teeters towards financial peril.

The former opposition presidential candidate noted that as of May 29, 2015, the nation’s total national debt was standing approximately at N12 trillion.

He lamented that as of August 2020, Nigeria’s debt has risen to N28.63 trillion, adding that more alarming was the fact that the foreign debt portion of the country’s national debt has further risen from less than $10 billion on May 29, 2015, to almost $30 billion in August 2020.

“A further cause for concern is the fact that not all of these debts are necessary. A study of the use to which these monies have been put to will show that much of it has gone towards items or projects that are non-productive or viable,” Atiku noted.

The former Vice President noted that the future of youth and unborn generations in the country had been placed in what could very well be bondage-like conditions.

“As such, in view of your role as a check on the excesses of other arms of government, may I suggest that going forward, the National Assembly should refuse to approve any new loan requests, where such loans are to be spent on projects or items that are not income-generating or production-based, or indeed viable,” he said.

https://www.nigerianeye.com/2020/09/loans-atiku-moves-to-stop-buhari.html?m=0

Someone said it's been a long while he spoke with his brother on phone, perhaps he wants him to call him.

how exactly will he do that. Is he in government?

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Pollosa1:
how exactly will he do that. Is he in government

I think he has the connections

Atiku tried but writing to rubber stamp and stooges of the president is effort in futility

There's no sense in what he is saying. You can only advice national assembly not to approve non important loans.

IamWonderful:
Atiku tried but writing to rubber stamp and stooges of the president is effort in futility

I concur

By this, Atiku has done what an elder statesman ought to do at this time of malistration and a history note has been taken whether they heed his advice or not.

The loans are actually getting too much

Lalasticlala

I don't know why the government is borrowing money every time. Are we not making any money at all.

Lipscomb:
I don't know why the government is loaning money every time. Are we not making any money at all.

This istration has finished this country no be small

They should first make sure that the Lagos - Ibadan standard gauge rail as well as other SW projects are completed before they start their political loan battles.

Una wan develop with big and impactful infrastructural projects, yet una no get money and una still dey argue over loan money wey the still dey reasonable. Na ona sabi.

lexy2014:
Did d Nigerian govt collect d loan u say it pays to d Chinese contractor from d Chinese contractor?

Here is what Amaechi the govt. Representative said:

https://www.timesng.com/news/more-news/406420-amaechi-explains-sovereignty-clause-in-500m-chinese-railway-loan.html

“I told them at that meeting, that these loans are not given to us, they are paid directly to the contractor. Once we sign that the job has been done, they pay the contractor. And this has never been done before. So what is critical is that the projects are being done. Or, are they trying to rubbish the fact that there is a railway from Abuja-Kaduna?

I hope you guys will free my mention after this.

Finnese001:
The presidential candidate of the Peoples Democratic Party, PDP, in the 2019 election, Alhaji Atiku Abubakar, has made a move to stop the government of President Muhammadu Buhari from collecting more loans from China.

In doing this, the former Vice President has written Ahmed Lawan, the President of the Senate requesting the National Assembly to reject any new loan request from the Buhari government meant for “projects that are not viable.”

Atiku, in the letter to Lawan, received on August 25, urged the legislature to also halt approval for loans that are not income-generating or production-based.

The former VP and business mogul pointed out that the country risked insolvency if it continued to borrow money.

Atiku’s letter, a copy of which was made public on Monday, he noted that Nigerians should not fold their hands and watch while the country teeters towards financial peril.

The former opposition presidential candidate noted that as of May 29, 2015, the nation’s total national debt was standing approximately at N12 trillion.

He lamented that as of August 2020, Nigeria’s debt has risen to N28.63 trillion, adding that more alarming was the fact that the foreign debt portion of the country’s national debt has further risen from less than $10 billion on May 29, 2015, to almost $30 billion in August 2020.

“A further cause for concern is the fact that not all of these debts are necessary. A study of the use to which these monies have been put to will show that much of it has gone towards items or projects that are non-productive or viable,” Atiku noted.

The former Vice President noted that the future of youth and unborn generations in the country had been placed in what could very well be bondage-like conditions.

“As such, in view of your role as a check on the excesses of other arms of government, may I suggest that going forward, the National Assembly should refuse to approve any new loan requests, where such loans are to be spent on projects or items that are not income-generating or production-based, or indeed viable,” he said.


https://www.nigerianeye.com/2020/09/loans-atiku-moves-to-stop-buhari.html?m=0

Who is this useless fool putting up this GIBBERISH

He who goes a borrowing goes a borrowing. When will Nigeria lend to other Nations

He who goes a borrowing goes sorrowful,when will Nigeria lend to other Nations

morgstreme:


Who is this useless fool putting up this GIBBERISH

Your father

Brandstudio01:
Someone said it's been a long while he spoke with his brother on phone, perhaps he wants him to call him.

Idiot man is he and his companies not owing? Why did he turn to borrowing when he had no money? Nonsense and ingredients. He should not talk cos he is an epitome of borrowing also.

AlabiJ:
They should first make sure that the Lagos - Ibadan standard gauge rail as well as other SW projects are completed before they start their political loan battles.

Una wan develop with big and impactful infrastructural projects, yet una no get money and una still dey argue over loan money wey the still dey reasonable. Na ona sabi.

Yes o. so that when the Chinese want to take over. They will start from SW.

muller101:
Yes o. so that when the Chinese want to take over. They will start from SW.

Yimu. If na so e easy China go don take over America because America owes more debt to China than any other country. How much money Nigeria don borrow wey una dey make noise? Those that don't want the loans for deve make dem allow the rest wey wan collet am collet am. Debt is a viable instrument of financing as long as it is used for what it is meant for. Every big corporation and billionaire has taken on debt. Your business can never expand and grow exponentially without debt. You people should stop these political scare tactics over this debt matter.

AlabiJ:


Yimu. If na so e easy China go don take over America because America owes more debt to China than any other country. How much money Nigeria don borrow wey una dey make noise? Those that don't want the loans for deve make dem allow the rest wey wan collet am collet am. Debt is a viable instrument of financing as long as it is used for what it is meant for. Every big corporation and billionaire has taken on debt. Your business can never expand and grow exponentially without debt. You people should stop these political scare tactics over this debt matter.

You want to compare African countries with the US?. Go and ask Angola and Zambia how how far.

muller101:
You want to compare African countries with the US?. Go and ask Angola and Zambia how how far.

. Don't shift goal post.. Why can't we compare.. Did they not borrow like the African countries.. Is Angola run by Chinese now? Which 1 is ho ask Zimbabwe is the president of Zimbabwe Chinese?

pquaver:
. Don't shift goal post.. Why can't we compare.. Did they not borrow like the African countries.. Is Angola run by Chinese now? Which 1 is ho ask Zimbabwe is the president of Zimbabwe Chinese?

Taking their GDP into consideration.

pquaver:
. Don't shift goal post.. Why can't we compare.. Did they not borrow like the African countries.. Is Angola run by Chinese now? Which 1 is ho ask Zimbabwe is the president of Zimbabwe Chinese?

But do you buhari's everyday borrowing

Excerpts.......
Atiku the Camerounian,
Atiku the loser can only turn around the news for his followers, the children of hate, frustration and perdition.
Honest, True and Hardworking Nigerians can't forget the truth of the matter!
It happened just few years ago,
Not 1960!

Read on.........

Chibuike Rotimi Amaechi, Minister of Transportation, has accused former President Goodluck Jonathan also collected loan from China to execute projects in the country.

In an interview with Channels TV, Amaechi said the loan being referred to by the PDP chieftain was actually taken by ex-President Jonathan.

He said: “There’s a gentleman who went to AIT, and said ‘oh I should resign’ and I wonder which university he graduated from, certainly not University of Port Harcourt,”

“He said I should resign. Resign from what? Are you saying those projects weren’t executed? Is there no Kaduna-Abuja railway?

“By the way, he said he is PDP; that loan was taken under President Goodluck Jonathan’s government.

“The loan he’s talking about — the Kaduna-Abuja railway — was signed by the President Goodluck Jonathan government.

“Don’t forget that we told the whole world when commissioning that project, that 80 percent of that project was executed by President Goodluck Jonathan’s government.

“The loan was taken by President Goodluck Jonathan’s government, and for that reason we had to name the train station and infrastructure in Agbor after President Goodluck Jonathan’s government for that laudable achievement.”

funny

J111333:
By this, Atiku has done what an elder statesman ought to do at this time of malistration and a history note has been taken whether they heed his advice or not.

funny

my brother no be atiku and co put us for this problem

abegi o if you wan call statesman don't use atiku name o only if you wan personalize it

Guyman

The move is really coming at the right time,else Buhari will mortgage this country for up to 100 years


Your home is incomplete without good quality furniture thats why we are here for you

Huh.
There's a reason for this regime's wanton borrowing.
Nigeria is living on borrowed time. They're trying to squeeze out as much cash as they can before they country goes belly up.
What's more important is what constituent of the former country would be held responsible for the loan repayment.
Anyway, China is lending the money to Nigeria, not Oduduwa
Or Biafra
Or Arewanistan.

Nonsense...

Well, it's one thing to write letter to the senate, it's another thing for them to listen and follow the advice.