Ahmed Musa seeking Loan from Neymar: Nigerians taunt FG over Brazil loan request
The minister of finance, finances and nationwide planning, Zainab Ahmed

By David Royal

Nigerians have condemned the Federal Authorities’s determination to take a contemporary $1.2 billion mortgage from Brazil, describing the choice as one that may go away the nation indebted for years.

Some who strongly kicked in opposition to the Muhammadu Buhari administration’s penchant for growing the nation’s debt profile now standing at over N31.009 trillion, referred to as on the federal government to take a position on its financial system as a substitute of borrowing from completely different nations.

The minister of finance, finances and nationwide planning, Zainab Ahmed who made the request on Tuesday when she appeared earlier than the home committee on finance to defend the ministry’s finances mentioned the mortgage can be taken from the Brazilian authorities to offer funds for mechanised farming.

“It’s a programme that’s addressing the entire of agricultural worth chain from mechanisation, manufacturing, processing and promoting. It’s meant to lend to businessmen for tractors, vegetation in any respect ranges.”

The entire public debt inventory, which contains that of the three tiers of presidency, stood at N31.009 trillion on the finish of June 2020.

Reacting to this, some customers on Twitter who aren’t happy with mortgage determination mentioned: @Kolapojones “How low can this gov’t go, quickly to borrow from Benin republic. If we increase real issues that Buhari gov’t is clueless and a failure they’d convey tribalism and northern theories. At this fee we might be paying debt for the subsequent 100yrs.”

@ShehuSani “Ahmed Musa in search of Mortgage from Neymar.“

“You retain on amassing mortgage from China, France, Germany, Brazil and relaxation. Are we not richer than Brazil. But one individual will seat on Billions of {dollars}, and also you guys conserving on amassing loans for them to embezzled.  God have mercy on us”

@khamisAbiodun “Ma, dont borrow anymore, we will cope. if you happen to don’t need to stay your life on borrowed finances, please dont borrow any cash ooo. What are you borrowing for sef cos I do know it isn’t as if you happen to guys need to give us secure electrical energy or Customary stadium.

“In spite of everything d cash u guys ve looted from d recovered looted funds, the COVID19 native n overseas intervention funds. It’s not as if you happen to guys can pay the ASUU and provides us higher medical services after you borrow the cash. You guys will nonetheless loot borrowed funds. Concern God oooo“

@Livingstone “For this reason, protest ought to by no means finish on this nation till this garbage stops. we hold tweeting, they hold borrowing. peaceable public motion is the one answer to this nation. Our authorities actions incite violence.“


@kendo“Why all these borrowings? What occurred to the earlier borrowings and what did they used it for?.. No Job, No safety, No cash, No life, No meals, No Electrical energy, No good roads, No hope and No Future… WHY BORROWING TO LOOT?“


@Oj-Ibiloye “By means of the Nineteen Eighties and Nineteen Nineties, the Brazilian financial system suffered rampant inflation and poverty. In 1994, the Plano Actual was launched, which introduced stability and enabled Brazil to maintain financial development. At the moment, Nigeria is in search of mortgage from a rustic that was poorer than Nigeria.“


@GeorgeBelcon “Humorous authorities,sick & uninterested in the loans..we ave so many degrading and deserted initiatives that would make use of extra youths & Nigerians if this loans the place invested in it to convey it again to life to create jobs,ajaokuta metal mill,.forestry.refineries.actual agricultural apply.and so on“

@taadelodun “With Oil Income dwindling. We now have been compelled to maintain borrowing. We squandered all the cash from Oil growth Publish 2008. Do not forget that Joseph story, we didn’t save once we had the 7 fats cows. The 7 skinny cow season is right here. We’re $85 billion in debt already“

Vanguard News Nigeria 

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