$500m loan: Review all foreign loan agreements, PDD tells NASS

August 3, 2020
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The Peoples Democratic Party (PDP) has urged the National Assembly to begin a review of all agreements in foreign loans entered into by the All Progressives Congress (APC)-led Federal Government.

The party said the negotiation of Nigeria’s sovereignty over loans is not only insulting to the Nigerian people but also exposes the act of malfeasance by the presidency in connivance with the APC.

The party said the revelation of the absurd clause in the N500 million loan had confirmed its earlier alarm that the APC  and its government had auctioned the country.

“Such mortgage of our sovereignty in a loan agreement is in further violation of the oath of office of the president to protect the interest of the sovereignty of our nation. “The PDP also calls on the National Assembly to review all foreign loan agreements entered into by the APC-led administration and take further urgent steps to retrieve our nation from the international the auction,” the PDP said in a statement signed by its national publicity secretary, Kola Ologbondiyan.

The opposition party said Nigerians reject such sovereignty- pawning clause and are not ready to mortgage any part of the country under any guise whatsoever. It charged the APC-led administration to retrace its step and halt every action regarding the administration of the loan until all toxic clauses are removed from the agreement.

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