News Column

Boko Haram - APC Urges N'Assembly to Scrutinise U.S.$1 Billion FG Loan

July 21, 2014

Onyebuchi Ezigbo



The All Progressives Congress (APC) has asked the National Assembly to properly scrutinise the puzzling request by President Goodluck Jonathan for a 1-billion-dollar loan to fight the insurgent group Boko Haram.

The party alleged that Jonathan Administration is spending or setting aside an average of 2 billion Naira to impeach each Governor of the APC states.

It said the Federal Government has no business borrowing money if it had accounted for US$20 billion in oil funds or plugged the official stealing of 300,000 barrels of oil per day.

In a statement issued on Sunday by its National Publicity Secretary, Alhaji Lai Mohammed, the party said even if the missing oil fund is only between 10 and 12 billion dollars as admitted by the FG, the amount represents more than 10 times the fund which the FG is now seeking to borrow under conditions that are yet unknown.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: AllAfrica


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters