N182b loan: PDP blasts Lai Mohammed, says fund to service Presidency cabal

The Peoples Democratic Party has told the Minister of Information and Culture, Alhaji Lai Mohammed, to perish the thoughts of further mortgaging the future of Nigeria by securing a $500 million (N182 billion) loan, purportedly for upgrading of the Nigerian Television Authority.
The party also urged the National Assembly to save the nation by refusing the request by President Muhammadu Buhari to plunge the nation into more debt through his request for additional $29.9 billion loan, in which the said $500 million and other unexplained subheads are embedded.
The PDP implored the National Assembly to reject the clear attempt by the cabal in the Buhari Presidency to worsen the economic situation in the country via the use of phony projects as guise to draw foreign funds to service their selfish economic and political interests.
In a statement by its National Publicity Secretary, Kola Ologbondiyan, the party noted that under the Buhari Presidency, the country’s foreign debt has accumulated to $83 billion with nothing to show other than excruciating unemployment rate, decayed infrastructure, a worsening governance system, escalated insecurity and unprecedented poverty.
The party said: “The PDP alerts that the request for the approval of $500 million is aimed at setting the stage for further fleecing of our nation’s economy as the Federal Government under the Buhari administration has shown no commitment towards nation building, transparency and accountability in governance.
“Moreover, the Federal Government has failed to present details of the requested $29.9 billion loan in which the $500 million being requested by the Minister of Information and Culture is embedded; a development that points to nothing but the corruption in the Buhari administration.”
While counselling the Minister to perish the thoughts of $500 million, the PDP charged him to use his appearance at the National Assembly to give account of the funds so far released to the Ministry of Information and Culture, which it said has been plagued by cases and allegations of corruption under his watch.
The party also charged Mohammed to immediately provide answers to circumstances surrounding the reported National Broadcasting Commission N2.5 billion fraud.
The PDP urged the National Assembly to shelve all requests for foreign loans until the Buhari Presidency heeds the demand of Nigerians to open its books and publish details of all financial transactions on foreign loans as well as spending from the federation account so as to secure our economy from the bazaar of the corrupt cabal in the Buhari Presidency.