Buhari, APC owe Nigerians unreserved apologies, Atiku says

Atiku Abubakar

FORMER Vice President, Atiku Abubakar, has demanded for apologies from President Muhammadu Buhari and the All Progressives Congress (APC) to Nigerians over what he described as reckless borrowing by the administration and how the terms of such loans could jeopardize the country in future.

Abubakar, who is also the presidential candidate of the Peoples Democratic Party (PDP) in the 2019 general election, said that the ruling party and even the government had denied the allegations he had raised, but according to him, just last week, a minister confirmed the allegations.

“Now, we all are aware that Nigeria’s sovereignty may have been traded for foreign loans and God forbids our inability to service those loans, the lender country would take ownership of choice infrastructure on the Nigerian soil. No negotiation could be weaker than that!

“Nigeria had a total foreign debt stock of $7.02 billion on May 29, 2015. Today, our foreign debt is $23 billion and rapidly rising. Debt, by itself, is not a bad thing. But debt budgeted for such unproductive ventures, like the proposed $500 million upgrade of the Nigerian Television Authority and other sundry bogus contracts, is debt that leads to death. To trade Nigeria’s sovereignty for this type of profligacy is the height of irresponsibility!,” the statement read in part.

Atiku said he has long advocated for a more robust engagement of the private sector and promotion of foreign direct investment as sustainable alternatives through which government could fund infrastructure development.

But on the contrary, according to him, the Nigerian government ignored his caution and threaded the direction of looking for cheap foreign loans in exchange for the sovereignty for Nigeria.

“Recall that former President Olusegun Obasanjo’s administration initiated a National Privatization Programme with the sole objective of ensuring that the private sector took some measure of influence in social investment portfolio and, in some instances, provided funding for infrastructure development.

“There was nothing in that plan that traded Nigeria’s sovereignty for some cheap loans which, in the light of unfolding revelations of sleaze in some departments of government, would have ended in private pockets,”.

The former vice President therefore, demanded for apology from the government and the APC to Nigerians and review its reckless and obnoxious policies that are moving to mortgage the nation due to naivety and deceits.

Published By: Admin

Hon. CARL UMEGBORO is a legal practitioner (Barrister & Solicitor of the Supreme Court of Nigeria and human rights activist. As an advocate of conflict resolution through ADR (Alternative Dispute Resolution), he has acquired intensive training and has been inducted into The Chartered Institute of Arbitrators (United Kingdom) as an Associate. He is a prolific writer and public affairs analyst. Prior to his call to Bar as a lawyer, he has been a veteran journalist and columnist in all national newspapers, and has over 250 published articles in various newspapers to his credit. Barrister Umegboro is also a regular guest-analyst to many TV and radio programme on crucial national issues. He can be reached through: (+234) 08023184542, (+234) 08173184542 OR Email: umegborocarl@gmail.com

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