Reno Omokri reacts to President Buhari’s request for approval from the members of the Senate for fresh loans.
On his Instagram page on September 14, he lamented on why the president still wants to borrow more money considering the Nigerian economic situation and how devalued the naira has become, at one dollar to 550 naira.
According to him:
The Naira is now ₦550 to $1, and Buhari still wants to borrow an additional $4 billion after increasing our foreign debt from $10 billion in 2015 to $34 billion today? Does this man have no shame? What type of bambiala mentality is this? Is it until Naira gets to ₦1000 to $1? And what is he using the borrowed money for? Useless things like Naval Base in Kano’s desert, rehabilitating Boko Haram, and sewing Igbo trouser that never reaches the ankle. What has this nation called Nigeria done to deserve this enemy of progress that behaves as if he is the eleventh Egyptian Plague?.
On Tuesday 14 September president Buhari tendered a letter to the members of the senates to seek for their approval on a fresh loan. The letter which says:
“I write on the above subject and submit the attached addendum to the proposed 2018-2020 external rolling borrowing plan for the consideration and concurrent approval of the Senate for the same to become effective.?
The distinguished Senate President may recall that we submitted a request on 2018-2020 borrowing plan for the approval of the Senate in May 2021.?
However, in view of other emerging needs and to ensure that all critical projects approved by FEC as of June 2021 are incorporated, I hereby forward an addendum to the proposed borrowing plan.?
The projects listed in the external borrowing plan are to be financed through sovereign loans from the World Bank, French Development Agency, EXIM Bank and IFAD in the total sum of $4,054,476,863 and €710 million and grant components of $125 million.”?