News Column

Opposition Mounts Against Jonathan's Proposed Loan

August 11, 2014

Gbenga Abegunrin

The move to secure loan by President Goodluck Jonathan has been criticised by a notable politician in Oyo state and Professor of Geo-Physics, Joseph Adeniyi Olowofela, who urged all Nigerians to rise against such loan.

President Jonathan had recently made known his intention to borrow $1 billion for equipping the military in view of the Boko Haram insurgency.

But Professor Olowofela described the move as self-serving, destructive and against national interest .

Olowofela who was answering questions from members of Correspondents' chapel who paid him visit in his Ibadan home also called on members of the National Assembly to turn down President Jonathan's request of approval to "secure the loan because it is in bad fate".

The politician who is the Caretaker Chairman, Ido Local Government Area of Oyo State said the loan certainly would not serve the corporate interest of Nigeria, but rather personal interest of a few individuals in government .

"The proposed loan, certainly; this is not the appropriate time. In fact, many people feel that there must be another reason behind it .

Some were even saying maybe it is a plot by the President to execute his political campaign programme . You know, because when you look at the spate of impeachment going on in the country, people believe a lot of money would have changed hands . So if you are seeking such a quantum funds this time around some believe that it is a plot to perpetuate the present administration in power. And that is the feelings of majority of Nigerians, and that is my feeling", he said.

Rather than asking for loan to equip the military, Olowofela said the most important need in Nigeria today is food security. He said, "This is because the greatest security is food. If he has said we need to borrow a specific amount of money to make sure that the teeming youth of this nation are gainfully employed.

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Source: AllAfrica

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