Opposition party cautions Buhari against external debt

The opposition Action Democratic Party (ADP) has cautioned President Muhammadu Buhari against worsening the debt profile of the country.

ADP’s National Chairman, Yusuf Yabagi, told reporters in Abuja that Nigeria could suddenly become bankrupt with incessant borrowing.

Expressing concern over the alarming theft of oil revenue by private individuals who are mostly foreigners, he noted that it was unfortunate that over N2.3 trillion would be set aside to service debt in the N10.3 trillion 2020 budget.

This, he argued, does not speak well of the Buhari-led administration in view of the fact that over 30 per cent of the budget would be utilised on overheads and recurrent expenditure.

Yabagi urged the authorities to develop a deliberate policy that would translate the 2020 budget into meeting the yearnings of Nigerians.

Decrying the face-off between the Federal Government and Labour over minimum wage, he stressed the need for the government to put in place palliatives to cushion the effect of the land border closure.

On the president’s request for the refund of N10 billion to Kogi State for federal projects executed, he said: “I don’t know who is advising Mr. President, but I know they are not fair to him. To ask for N10 billion a month to the election in Kogi State is daylight robbery. This is the beginning of the rigging of the election in the state next month.”

Meanwhile, Special Adviser to the President on the National Social Investment Programme (NSIP), Mrs. Maryam Uwais, has assured that the National Social Investment Office (NSIO) would continue to perform its duties in line with the provisions of the Fiscal Responsibility Act.

She stated this yesterday when she led the management team of NSIP to brief the new Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Farouk, on the activities of NSIP in Abuja.

Communications manager of NSIO, Tienabeso Bibiye, explained that the development was further to the presidential directive that the SIP is relocated to the ministry from the Office of the Vice President.

The presidential aide, who acquainted the minister on the structure, financial standing, level of implementation of the various components and challenges of the SIP, said the NSIO expenditure had strictly remained consistent with the financial work plan defended and approved by the National Assembly.