{"id":66089,"date":"2019-04-09T04:56:59","date_gmt":"2019-04-09T03:56:59","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=66089"},"modified":"2019-04-09T04:56:59","modified_gmt":"2019-04-09T03:56:59","slug":"pdp-queries-fg-buhari-presidency-over-n24-38tr-debt-profile","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/pdp-queries-fg-buhari-presidency-over-n24-38tr-debt-profile\/","title":{"rendered":"PDP Queries FG, Buhari Presidency Over N24.38tr Debt Profile"},"content":{"rendered":"<div id=\"m-5171517439940478833\" class=\"mail-message expanded\">\n<div class=\"mail-message-header spacer\">\u2026Demands NASS Investigatio<\/div>\n<div class=\"mail-message-content collapsible zoom-normal mail-show-images \">\n<div class=\"clear\">\nThe Peoples Democratic Party (PDP) queries the All Progressives Congress<br \/>\n(APC)-led Federal Government and the Buhari Presidency over alleged<br \/>\nunwholesome borrowings leading to the escalation of the nation debt<br \/>\nstock from N12.12 trillion in 2015 to an overburdening N24.38 trillion<br \/>\nin 2018.<\/p>\n<p>According to a statement signed by Kola Ologbondiyan, &#8220;The party describes<br \/>\nas saddening and devastating that President Muhammadu Buhari\u2019s<br \/>\nadministration, in its manifest incompetence and lack of initiative to<br \/>\nstimulate and run a productive economy, relies on heavy borrowings and<br \/>\nunbearable tax regimes, which have crippled productivity, caused untold<br \/>\nhardship and mortgaged the economic future of our nation.<\/p>\n<p>&#8220;Since President Buhari assumed office in 2015, there has been a culture<br \/>\nof unexplained borrowings leading to a steep rise in the debt stock from<br \/>\nN17.5 trillion in 2016 to N21.72 trillion in 2017 and a huge N24.387<br \/>\ntrillion in 2018.<\/p>\n<p>&#8220;It is shocking and completely insupportable that our nation\u2019s debt had<br \/>\nrisen from N21.72 trillion in December 2017 to N24.387 trillion in<br \/>\nDecember 2018, showing an accumulation of a whopping N2.66 trillion in a<br \/>\nspace of one year.<\/p>\n<p>&#8220;President Muhammadu Buhari-led administration therefore has a huge<br \/>\nexplanation to make to Nigerians for its borrowing spree, especially as<br \/>\nit cannot point to any meaningful development project into which the<br \/>\nborrowed funds were invested.<\/p>\n<p>&#8220;This is particularly against the backdrop of allegations in the public<br \/>\nspace that the borrowed funds, which were taken as development funds,<br \/>\nwere diverted to 2019 general elections campaign activities of the APC,<br \/>\na huge part of which ended in private pockets of corrupt APC leaders.<\/p>\n<p>&#8220;This is in addition to direct frittering of public funds through the<br \/>\nalleged N1.4 trillion sleazy oil subsidy regime, the looted N9 trillion<br \/>\ndetailed in the leaked NNPC memo, the alleged N33 billion fraud in the<br \/>\nhandling of funds meant for the welfare of Internally Displaced Persons<br \/>\n(IDPs) in the North East, among other sleazes.<\/p>\n<p>&#8220;The PDP therefore urges the National Assembly to commence a system-wide<br \/>\ninvestigation into the borrowings by the Buhari administration,<br \/>\nparticularly the terms of the borrowing and the handling of the funds.<\/p>\n<p>&#8220;The National Assembly should also save the future of our nation by<br \/>\nrestricting the Buhari administration from taking further loans on<br \/>\nbehalf of our country until explanations are provided on the terms and<br \/>\nhandling of the borrowed funds.<\/p>\n<p>&#8220;Nigerians cannot afford to continue to bear burden of an incompetent and<br \/>\ninsensitive administration and that is why they eagerly await the<br \/>\nretrieval of our stolen mandate at the Presidential election petition<br \/>\ntribunal.&#8221;<\/p>\n<\/div>\n<\/div>\n<div class=\"mail-message-footer spacer collapsible\"><\/div>\n<\/div>\n<div id=\"conversation-footer\" class=\"spacer\"><\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>\u2026Demands NASS Investigatio The Peoples Democratic Party (PDP) queries the All Progressives Congress (APC)-led Federal Government and the Buhari Presidency over alleged unwholesome borrowings leading to the escalation of the&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":63018,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-66089","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>PDP Queries FG, Buhari Presidency Over N24.38tr Debt Profile - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/pdp-queries-fg-buhari-presidency-over-n24-38tr-debt-profile\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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