Extra Borrowing: I Am Worried About Senate’s Rush To Approve Loans – Ndume

Extra Borrowing: I Am Worried About Senate’s Rush To Approve Loans – Ndume
Ali Ndume

Chairman Senate Committee on Army, Senator Ali Ndume, has expressed worry on how the Nigerian Parliament is handling the issue of debt and borrowing by the Federal Government.

Recall that President Muhammadu Buhari earlier in the week requested statutory approval for external loans in the total sum of $4,054,476,863.00, plus Euro €710m and Grant Component of $125m.

Recall that in July, the Senate approved the Federal Government’s 2018-2020 external borrowing rolling plan of $8.3 billion and 490 million euros.

Also Read: APC: FG Borrowing To Uplift Living Standards Of Nigerians

Senator Ndume, displeased with the increasing external borrowing by the Federal Government, frowned at the NASS leadership’s swift pace in approving requested loans.

Noting that borrowing is not a crime, the lawmaker lambasted the parliament for not giving the loan proposals a thorough look before approving them.

Ndume argued that failure to critically look at requests from the presidency, further adds bounce to claims suggesting that what is currently being run is just a “Rubber-Stamp” National Assembly.

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