From ADETUTU FOLASADE-KOYI, Abuja
Despite seeming opposition to foreign loans, Senate yesterday gave the Presidency approval to go ahead with external borrowing to the tune of $8.209 billion. The approval would enable the executive fund proposed pipeline projects under the Medium-Term Expenditure Framework (M-TEF) and Fiscal Strategy Paper (FSP) between 2012-2014. Senate’s approval is higher than the original $7.9 billion request by President Goodluck Jonathan.
A breakdown of the loan shows that states will have $2,263.239billion; Federal $4,846.3billion totaling $7,109.53billion, while continuation of the Eurobond Issuance for Federal is $1billion and Diaspora Bond for Federal is $0.1 billion.
Senate, however, rejected the proposal of $56.61million, which is no longer required by Kaduna State for its National Urban Water Sector Reforms from the French Development Agency but asked the Presidency to approve Lagos State’s $200 million loan request.
“Senate has advised the Federal Government to forward a request for Lagos State to avert imminent crisis in the implementation of the 2013 budget.’’
shearing Nigerian money any how in the name of foreign loans no problem we r here looking to see the Development
Indeed this loan is approved for Jonathan and his cohorts and not for the benefit of the generality of Nigerians. Jonathan enjoy yourself, it is your own time.
Squandanomia government.
Most of their programs and projects are misplacement of prirorty. The so call State Governors have been at the throat of the President asking for the approval to borrow external loan. The question is that they will go ahead and squander it among themselves while the states suffer.
You cannot trust Goodluck because he has no policy. They corruptly squander the locally generated revenue and now they need external loan which they will also loot.
They have no project in mind rather to borrow for their own personal pocket.
It will never be better for them dat plug this country in total darkness.
Na wao for this government, how can a government that is spending 19 billion building a house for one single person be borrowing ?? They think we are fools, there budget put the oil at 79 dollars per barrel, but for the past three to four years oil has not been less than 100 USD per barrel, who is eating the short fall ??
No account for all the billions coming into this nation and now they want to borrow more so that the coming generation will pay for the crime they are now committing against humanity.
THEIR CHILDREN’S CHILDREN WILL MEET PLENTY DEBTS. PEOPLE, PLS LET’S TALK ABOUT CREDIBLE MONEY MAKING. Free internet business. You pay no money but u make so much money http://www.socialpaycheck.com/index.php?referral_id=6834
WHAT AN IRONY.THE MORE OIL WE SELL THE MORE WE BORROW!
I just dey see figures….One day na One day, me sef go count my own. Naija can NEVER be good, thats my conclusion.
Another Bazaar 4 those senseless morons called politicians and opportunists called leaders.
wonders shall never end.thank God my family and i no longer live in nigeria. what a shame that a country that produces oil will keep on borrowing instead of lending.God will punish all of you .
Nigeria is caused by God and the Hosts of Heaven for not doing the right thing ,despite His showers of blessing on us with human and natural resources ,The bible said they would eat and they will not be satisfied .I observed that voting for a Nigerian politician twice is inviting the rough of God .if not why is it that most 2nd term Governors are now borrowing external loans to execute nothing but take home after their tenure in office? Any politician that compound our predicament will naturally bite his fingers where ever he may finally find himself ,not prison as Nigeria has no judicial system that can track down big time political robbers .A country engulfed in the flame of corruption .Good for nothing a country but taking a leading position in every thing that is bad all over the world .Shame to Nigerian politicians that no nothing except stealing and looting our treasury .
The sanate and presidency ar working hand in hand 2 loot.We need president who is brave and wel displined 2 pilot d affairs in Nigeria.
Kidnappers,u pple jst got d ransom of 8billion in d name of loan,no problems.by d way y wont u do dt wen u spend 16billion in building v.P’s house?
8billion just for a residence! Dont forget, we shall all die one day. How can we fight corruption when our master plan is CORRUPTION??????
Wicked government !