The National Publicity Secretary of the Restore Back Peoples Democratic Party (PDP) Initiative, Dahiru Hassan Kera, has warned the Buhari led federal government against mortgaging the country with huge external debt from China and World Bank.
Reacting to the recent signing of a $328 million loan deal with the Chinese government, Kera said the spate of reckless and carefree borrowings by the federal government without considering the economic countercoup is quite alarming.
He told newsmen in Gombe at the weekend that the action was disastrous and need to be stopped if the country must enjoy a healthy economy.
According to him, ‘’With the recent deal, Nigeria has borrowed over N3 trillion from China in the last four years and by implication, every Nigerian citizen owes Chinese Government the sum of N15,000.”
He added that “it is the same government that is trying to divert $322 million repatriated from Abacha’s loot to fund 2019 election in the pretence of sharing the money to the poor Nigerians.’’
Kera alerted that Nigeria’s debt profile is said to have gone through the roof top from N9 trillion inherited by the current administration to over N30 trillion and that if the trend is allowed to continue, Nigeria is going to be facing a great economic danger.