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Nigeria Should Avoid Loans And Spend Recovered Loots – ActionAid tells Buhari

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ActionAid Nigeria has advised the Federal Government to focus more
on recovering looted funds from indicted public officials rather than
taking fresh loans.

Country Director of ActionAid Nigeria, Ms Ojobo Atuluku said in a
statement on Wednesday in Abuja that external borrowing would put the
nation under further constraint in future.
Atuluku recalled that the Senate had rejected the Executive’s request
for an approval of 29.96 billion dollars loan for infrastructural
development.
The ActionAid boss, however, commended the Federal Government for its
focus on infrastructural development being the main reason for request
to take series of loans.
She noted that already there was evidence that the country had money
to finance such projects, but such fund had been illegally appropriated
by some individuals.
“The Federal Government should intensify efforts at recovering such
funds illegally taken by the individuals who have abused their positions
and public trust rather than taking fresh loans.
The anti-poverty agency boss also called on the National Assembly to
show good example in the quest to revamp the country’s economy by
reviewing downward some of its members’ allowances.
She described such allowances as excessive and absurd in a depressed economy.
Atuluku commended the Senate for the rejection of Executive’s request
for an approval of loans which she said would commit the next
generation of Nigerians to unwarranted burden of repaying avoidable
debt.
She urged the House of Representatives members not to support the
government’s decision to take 29.96 billion dollar loans. 
Source: NAN

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