Probe FG’s debt profile, PDP tells NASS
The Peoples Democratic Party (PDP) has urged the National Assembly to commence a system-wide investigation into the borrowings by the Buhari administration, particularly the terms of the borrowing and the handling of the funds.
The National Publicity Secretary of the party, Kola Ologbondiyan who, stated this in a press release made available to newsmen yesterday, also called the legislative arm to ‘the alleged N33 billion fraud in the handling of funds meant for the welfare of Internally Displaced Persons (IDPs) in the North East, among other sleazes’.
He said the 33 billion scam is in addition to ‘the direct frittering of public funds by the Federal Government through the alleged N1.4 trillion sleazy oil subsidy regime, the looted N9 trillion being detailed in the leaked NNPC memo’.
Ologbondiyan stressed that ‘the alleged scam is particularly against the backdrop of allegations in the public space that the borrowed funds, which were taken as development funds, were diverted to 2019 general elections campaign activities of the APC, a huge part of which ended in the pockets of corrupt APC leaders’.
He said ‘President Buhari-led administration, therefore, has a huge explanation to make to Nigerians for its borrowing spree, especially as it cannot point to any meaningful development project into which the borrowed funds were invested’.
The PDP spokesman noted that it is shocking that the nation’s debt had risen from N21.72 trillion in December 2017 to N24.387 trillion in December 2018 which shows an accumulation of a whopping N2.66 trillion in a space of one year, adding that since President Buhari assumed office in 2015, there has been a culture of unexplained borrowings leading to a steep rise in the debt stock from N17.5 trillion in 2016 to N21.72 trillion in 2017 and a huge N24.387 trillion in 2018