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$29.96bn loan: Don’t join FG to ruin Nigeria, Fayose warns Saraki


Ekiti State Governor, Ayodele Fayose, has urged the Senate President, Bukola Saraki, not to join the Federal Government in ruining Nigeria by supporting President Muhammadu Buhari’s request for $29.96bn foreign loan.

The governor, who called on Saraki to join Nigerians who were against the loan, cautioned him not to because of his own personal interests join Buhari to destroy Nigeria.

Fayose in a press release issued by his Special Assistant on Public Communications and New Media, Lere Olayinka, said the senate president must realise “that no matter how much he tries to warm himself into the hearts of the Aso Villa Cabal, they can never love him and accept him into their fold.”

The governor queried the economic sense in taking over N12 trillion loan so as to be able to spend more money during economic recession.

“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 of today, 30 per cent 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?”

Fayose urged the senate to be mindful of the reality that many states in Nigeria were unable to pay workers salary now because of the huge debt left behind by past governments.

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