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Ekiti State Governor, Ayo Fayose has urged Senate President, Bukola Saraki not to grant a $30 billion loan request made by President Muhammadu Buhari.

Fayose made the call via a statement issued by his Special Assistant on Public Communications and New Media, Lere Olayinka.

The statement reads:

“How can a nation be proposing to spend more money when its income has reduced considerably? Yes, it is being argued that nations in recession must spend to get out of recession, but in the case of Nigeria, how do we pay back when as at today, 30 percent of our income is being used to service debt? What will happen to our economy when over 60 percent of our income is being used to service debt?”

“When the Senate unanimously threw out President Muhammadu Buhari’s request for external loan of $29.96 billion, many Nigerians heaved a sigh of relief and hailed the Senate.




“However, unfolding events in the last few days suggest a dangerous alliance between the Presidency and the Senate President, Bukola Saraki to ensure the approval of the $29.96 billion loan at all cost.

According to the governor, he alleged that feelers getting to the public suggest that the on-going Code of Conduct Tribunal (CCT) trial of the senator is being used as blackmail to get him to back the $29.96 billion loan.

“Senator Saraki should be mindful that the $29.9 billion loan will do incalculable damage to the country’s ailing economy because of the amount presently being used by the federal government to service loan monthly.

“Therefore, Senate Saraki must not allow himself to be seen as using the future of Nigeria as negotiation for his own interests."

Fayose earlier said that Buhari has damaged Nigeria’s economy.


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