The South and Middle Belt Leaders Forum and the Yoruba Council of Elders have faulted the $22.7bn loan request approved by the Senate for the Federal Government.
The SMBLF rejected the foreign loan approved by the upper chamber and asked the Federal Government to rescind its decision to take more foreign loans which it argued might be stolen or used to fund overhead.
The statement was signed by the forum chairman, Chief Edwin Clark; co-chairman, and Afenifere leader, Chief Ayo Adebanjo; President, Ohanaeze Ndigbo, Chief Nnia Nwodo; National Chairman, Pan Niger Delta Forum, Air Comm. Idongesit Nkanga ; President, Middle Belt Forum, Dr Pogu Bitrus, and the SMBLF secretary, Mr Yinka Odumakin.
It added, “Even then, the meeting rejects the lopsided allocation of the proceeds of the huge latest external borrowing plan where the South East of the country is totally excluded.” The Secretary-General of the YCE, Dr Kunle Olajide, said in an interview with one of our correspondents on Sunday that Nigerian leaders did not have a history of prudent management of resources and should not have considered taking any loan at this time.
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