Former Vice President of Nigeria, Atiku Abubakar has called on the National Assembly to reject fresh loans requests from the executive arm.
He made this request in a letter to the President of the Senate, Dr Ahmad Lawan received on the 25th of August.
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Atiku urged the federal lawmakers not grant any request for loans that are not income-generating or production-based.
He said Nigeria risked insolvency if it continued to borrow money, adding that previous loans were spent on non-viable projects.
According to the Debt Management Office (DMO), Nigeria’s total public debt as of March 2020 stood at $79.3 billion out of which external debt was $27.6 billion.
