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Sanusi Kicks Against Buhari’s Proposed $30 Billion Foreign Loan, Says It Has Grave Consequences
December 3rd, 2016 – Sanusi To Buhari: Scrap Your Proposed $30 Billion Foreign Loan, It Will Destroy Nigeria
Sanusi Kicks Against Buhari’s Proposed $30 Billion Foreign Loan, Says It Has Grave Consequences
Ex-CBN Boss, Sanusi has advised President Buhari to let go of his plan to borrow $30 billion from foreign bank because of its grave consequences.
Sanusi said if the Senate eventually approves the proposed foreign loan, no bank would be willing to grant Buhari’s request due to the current economic recession.
He added that a nation with 5 exchange rates can’t scale through the difficulty involved in borrowing such huge loan.
He made this known in a paper entitled “A plan to restore confidence, direction and growth” while speaking at Savannah Centre for Diplomacy in Abuja recently.
uthman Saheed
December 3, 2016 at 8:53 AM
Thats’ true. I just pity this country.
Komla
December 3, 2016 at 9:52 AM
Theophilius Danjuma sold one of Nigeria’s oil well recently and put the $ 1 Billion into his pocket. Buhari know all the people he will hold and recover well over $ 100 Billion of our stolen money.
Endurance
December 3, 2016 at 11:39 AM
Thank you Mr lamido Sanusi. Please help us educate mr president over the huge disadvantage and the high risk involved in taking such loan. Buhari wants to return nigeria to the era of 1970’s and 80’s when we incurred debts that plagued the country until they were paid up in 2005 during the Obasanjo’s administration.
Now the point is,has Buhari ever sat down with his economic team and analysts to calculate or review the cost of the interest rate per year of that humongous amounts of money Nigeria wants to borrow? Nigerian government should always learn to check their past record if they are confused. The interest that was finally paid along with our main debt back then in 2005 was about $42 billion US dollars more than enough to eradicate poverty completely from the country. So why not learn from the past history and desist from taking suicide mission. I just wondered what kind of men surrounds this man.
This decision to borrow $29.97 billion dollars if approved no doubt will leave nigeria indebted for decades to come thereby mortgaging the country’s future and impede development we solely desired. I will urge the senates to maintain their resistance to such bill.
fifelomo
December 3, 2016 at 9:00 PM
One question for Mr president, when you borrow how do you intend to pay back?
ade eagle
December 4, 2016 at 2:04 AM
sanusi is very right even a common man in Nigeria knows we dont need to borrow more money from overseas Buhari is confused
sola olaniyi
December 5, 2016 at 7:55 AM
wish this man (sanusi lamido sanusi) can be part of the economic team of this administration
clifford
December 6, 2016 at 12:27 PM
Do not mind GMB. He was busy blaming GEJ for using insurgency fund to finance his re election. Now he is up to the same old trick, to source for 30B for 2019 re election project.The projects selected clearly showed his hatred for the southeast and southsouth. See him diverting the fund to the much talked about Niger Nigeria oil deal