$29billion loan: Kano State wants National Assembly, other opposition groups to support action

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$29billion loan: Kano State wants National Assembly, other opposition groups to support action

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The National Assembly and other opposition groups in Nigeria have been urged to reconsider their steps and support the 29.9 billion Dollar loan proposed by President Mohammodu Buhari.
Kemi-Adeosun

Kemi-Adeosun

Kano State commissioner for information, Mohammed Garba said “the loan if approved will stimulate development and assist in taking Nigeria out of its present economic recession.””˜No exception’ He said most nations across the world goes into borrowing, when it becomes necessary in other to survive as such, that of Nigeria should not be seen as an exception.“Everybody goes into borrowing. Believe you me if Buhari did not get this $29.9 billion loan, we are going to be in trouble. Thank God that we are able to get it, we are going to see a lot of progress, and you use money to get money, it is an investment,” Garba stressed.Garba said the loan should be seen as an investment to revive the nation’s economy into a sound state.The President had since late last year sent the document containing the details of the $29.9 billion loan to National Assembly for assessment and authorization as required by law.Although, the request was put on hold by the National Assembly on the fear that it will increase the nation’s external debt profile to over $41 billion.

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