Saraki Rejects Buhari’ Request To Borrow $29.96B Under 2016-2018 External Borrowing Plan

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saraki rejects buhari loan request

Nov 2, 2016 – Saraki-Led Senate Rejects Buhari’s Request To Borrow $29.96Billion Under 2016-2018 External Borrowing Plan

The senate yesterday rejected President Muhammadu Buhari’s request to borrow $29.96 billion under the 2016-2018 External Borrowing Plan.

The upper chamber voted massively against the request.

Senate President Abubakar Bukola Saraki put the question twice –

“that the Senate do consider the request of the President C-in-C on the 2016-2018 External Borrowing Rolling Plan”. Twice it was rejected.

Senate Leader Mohammed Ali Ndume moved the motion for the consideration of the request. Deputy Minority Leader Emmanuel Bwacha seconded.

The lawmakers were not comfortable with “some glaring omissions in the Executive Communication” forwarded to them by President Buhari.

19 thoughts on “Saraki Rejects Buhari’ Request To Borrow $29.96B Under 2016-2018 External Borrowing Plan

  1. the man want to finish Nigeria before his death, his own corruption has no limit, He came to steal, kill, and destroy .

  2. How can 87yrs man borrow such a huge sum of money? and pay when or he just wants to render the youth useless,Buhari happens to be the worst president in the history of this country, so confused, I know that **** will soon come here and ****** in his support bcos already they are jobless and hungry suffering and smiling just to prays their boastful president.

  3. Madam Ng why are u removing some of my comments? whoever that is unhappy with my opinion should meet me in court

  4. If Nigeria is handled by a competent and honest leader, borrowing is a must in a developing economy. Unfortunately, the situation now, with our Naira falling daily, will render such money worthless before it gets here. I would have preferred bond market by Nigerians for Nigeria. Borrowing from devilish foreigners will usurp our political and economic power in the comity of nations. Let us start the re construction ourselves, then if we need enhancement we shall know what to do. Buhari is not as corrupt as every other leaders we have had, but can be easily manipulated by skilled politicians from hell!

  5. Now i know that Buhari is totally confused, where are all these money that he collected and still collecting from the corrupt politician and the $97millions that America gave us through John Kerry ,how can a president that meant well for his people place that huge amount of money for a loan, that means he want to sell the future of the youth, he is very self centered greedy man, he really came to steal,kill and destroy, but it will bounce back on him, because the suffering of the masses means nothing to the infidel

  6. GOOD DECISION! PMB SEEMS not to understand what things the country needs now, which increasing our debt profile is not one of. I owe all our senators a bottle of Sprite 2020 model.

  7. @JAMOON you a funny person. You didn’t tell us your phone number and house address so how can we pro-APC trace you?

    Nonetheless, your overall assessment about Buhari-led government is correct and accurate. While the senate president is not entirely free from accusation,his rejecting the president’s proposal or request to borrow $29.96billion to run our economy is not just right but helpful to the country.

    It is so shameful that our president didn’t even no the total debt Nigeria is owing not until last month of october when it was reveal to him. The president did not have any knowledge of how much his own administration is owing as debt ever since he took office until last month. So sad! Poor administration. In just 1 year and half it was revealed by the website of (DEBT MANAGEMENT OFFICE OF NIGERIA) that the current administration is owing N4.17 trillion in relatively short period of time. And the debt keep mounting! And yet he’s requesting for this huge amount? Buhari indeed has ruin this country in less than 1 and half year of failure. He has caused massive suffering to nigerians one that is unprecedented in the history of the country.

    What happen to all the policy he introduced to stimulate our economy in the past one and half year? What happen to the increment in the price of petroleum product Osibanjo said was introduced because Nigeria was broke and they needed to raise revenue to sustain the growth of the economy? What happen to all the looted billions of naira recovered? What happen to the N3 trillion realised after introducing the SINGLE TREASURY ACCOUNT that was reported earlier this year under the current administration?

    Buhari has failed the country. They knew it and that was why they openly accepted blame that they are the cause of the recession that has reduced most nigerians to abject poverty. They apologized to Nigerians to exercise patient with them to fix the economy because of their callosal failure in the way and manner they’ve so far handled our economy.

    The time is really ticking for Buhari’s departure. Nigerians are resilient and hard working people who will never give up if not, none of us will survive this current hardship. In his infinite mercy,God will see us through this critical time hard to deal with that has been brought about by Buhari and his inexperience politicians.

  8. come to think about this, we keep hearing they got ahuge sum of money from the formal leader and other politicians, if it is true, why cann’t they use it for what ever reason instead of borrowing again. hope they will not sell Nigeria the way they are going.

  9. Hi Guys, our problem is not getting money, our problem is mismanagement,we shouldn’t mortgage our country bcos of recession.let us learn how to manage our resource and God will help us.

  10. Now I know that the overthrown govt of buhari in 1985 by Babangida was not a mistake. Though, he (IBB) has so many scores to settle himself but I think we would have been happier with IBB in Aso Rock than this fulani herdsman called buhari.

    Somebody should pls help me ask him, that what does he want to use the money for? What about the so claimed recovered loots?

    I take a stroll…

  11. may the lord help our president buhari God should touch him I don,t know why he want to borrow such money

  12. THIS IS RESULT OF VOTING AN ILLITERATE WITH NO CERTIFICATE AS THE PRESIDENT. I AND WAITING FOR JILO AND OMOKHEHINDE’S COMMENTS

  13. But b4 nigerians said says baba buhari u seeyam so now no more sai baba (goodluck ebele jonathan gej) call me for more fourther understanding 09037942335

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