APC justifies rising external debt


The All Progressives Congress national leadership has justified the fresh request for external borrowing by the federal government.

The People’s Democratic Party while reacting to the loan request before the Senate accused the APC led administration of lack of empathy for Nigerians whom it noted would ultimately bear the brunt of the repayment.

The fresh external loans for Senate approval are in the total sum of $4,054,476,863.00, plus Euro €710,m and Grant Component of $125m.

The APC in a statement on Thursday signed by its National Secretary, Sen John James Akpanudoedehe said the “borrowings by the President Muhammadu Buhari-led federal government is for the good of the…

Source: Nigerian Tribune