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Home News Economy 8th senate rejected $30bn loan request Buhari submitted to save Nigeria from...

8th senate rejected $30bn loan request Buhari submitted to save Nigeria from recolonisation – Shehu Sani

Shehu Sani, the Senator who represented Kaduna central senatorial district in the 8th senate has waded into controversy sparked by President Buhari’s resubmission of a $30bn loan request to Ahmed-led Senate after it was struck out by the Saraki-led senate. 

President Buhari who resubmitted the loan request on Thursday November 28, said it was critical to the delivery of the government’s policies and programmes. 

However in a statement released on Friday November 29, Shehu Sani defended the 8th senate’s decision to reject the$29.96 billion loan request from President Muhammadu Buhari. 

The former lawmaker from Kaduna state said Nigerian would have been ”recolonised by creditor banks” if they granted the request which will shoot up the country’s external debt to $52 billion. 

“We turned down the FG loan request for $30 Billion to save Nigeria from sinking into the dark gully of a perpetual debt trap,” he said.

“We don’t want our country to be recolonized by creditor banks.

“With the current escalation of borrowing, we will be walking into debt slavery and move from landlords to tenants in our country,” he said.

“They will always tell you that even America is borrowing and I don’t know how rational is it to keep on borrowing because Another country is borrowing.

“If we keep listening to Bankers and contractors we will keep borrowing and burying ourselves and leave behind for our children a legacy of debt burden.

“Loans are not charities. Most of those encouraging more borrowing are parasitic consultants, commission agents, rents seeking fronts and contractors. We must be cautious.”

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