National Coordinator Prayer Force Network, Amb John Pofi, has lambasted president Muhammadu Buhari for his consistent loan taking instead of looking inward in solving Nigeria’s development problem.
Pofi said the legion of threats that are lining the path of progress of Nigeria are increasing geometrically and with the speed of light.
“Whenever one begins to see a ray of hope, Gbam! ” Baba go slow” will change the gear in an opposite direction.
“There are many fora where President Muhammadu Buhari has reaffirmed the commitment of his importent administration to change the fortune of Nigerians for good and as well fight corruption in all sectors even when it is crystal clear that he is running one of the most corrupt government known to mankind.
“Records have it that when he took over power in 2015, Nigeria’s outstanding foreign debt was put at 9.7 billion dollars and today, six years after, it has hit 45 billion dollars this is following another request for external borrowing of 4.054 dollars waiting for Senate’s approval,” Pofi said.
He said the proposed addition gets approval which will be passed by the legislative body, headed by the Gashuwa man whose stock in trade is to approve anything sent to them from the presidency without proper scrutiny, debate or consideration to its implications to the generality of Nigerians, then, the nation’s foreign debt profile will dangerously hit 366 percent according to financial experts.
“Some times in the second week of August, 2021, the World Bank released the list of ten high debt risk exposure countries and Nigeria ranked fifth on the ladder with 11. 7 billion dollars IDA stock with only the chance according to financial experts to access 8billion dollars from the World Bank in future.
“Talking about the most recent request, which the president laughably said that the borrowings are tied to funding projects captured in the 2018 to 2020 borrowing plan.
“One disturbing question is that, where are the projects that external borrowings have been used for? Are they in the sky that we cannot see, feel and touch? Haba!
“Loan, loan, loan every time and nothing to show for such? Our rulers will collect loans and share among themselves and cannot translate into prosperity for the citizens? What are the repayment plans, though experts said the repayment plans are faulty and more worrisome is that these loans are being sourced from commercial banks with very harsh, unfriendly and demonic conditions.
“This government under the unable leadership of PMB has made a mark in terms of external borrowing and also has failed woefully in terms of provision of infrastructure to the citizens.
It is time we speak for our children who are still in primary and secondary schools and those unborn, because they will be the ones to repay these loans that haven’t been shared among their grandparents.
“What a very sad commentary of a country so rich yet, extremely poor,” the statement said.
He said the greatest fear is that, if the loans were and are being used for recurrent expenditure, then the country is doomed.
“If president Muhammadu Buhari at his age can cause this damage to many destinies despite rising to power on the back of self acclaimed integrity and the support of the poorest of the poor Nigerians, then it is time we keep religion and ethnicity aside and shop for a credible leader who will sincerely wish to build a nation that will outlive him and his generation.”
“I frankly commiserate with our kids who will tomorrow take up leadership positions only to be servicing debts left behind by their grandparents which they know absolutely nothing about and did not benefit from it because If this happens, they will never forgive nor forget us that is why I am calling on all well meaning Nigerians to rise up and let us speak with one resounding voice and say no to financial slavery, no to day light robbery and enough of taking Nigerians for granted. Is this the future we intend to bequeath to the next generation? He asked.