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Why should Buhari borrow $5.5 billion when NNPC has $26 billion to spend illegally? — Reno Omokri

A formal Aide to Former President Goodluck Jonaththan, Reno Omokri, has questioned President Muhammadu Buhari’s latest attempt to borrow $5.5Bn loan.

Why should Buhari borrow $5.5 billion - Reno Omokiri
President Buhari, Reno Omokiri

President Muhammadu Buhari had written to both chambers of the National Assembly, seeking approval for $5.5bn external borrowing to be used to finance the 2017 Appropriation Act.

In the letter dated October 4, 2017, which President of the Senate, Bukola Saraki; and Speaker of the House of Representatives, Yakubu Dogara, read in the chambers at their plenaries on Tuesday, Buhari referred the Senate to the 2017 budget, which has a deficit of N2.356tn and provision for new borrowing of N2.321tn.

He said the Act also provided for domestic borrowing of N1.254tn and external borrowing of N1.067tn (about $3.5bn).

In a swift reaction to the President’s attempt to borrow loan, Reno Omokri took shots at President Buhari saying, ‘Buhari and 25 billion did not start today’. It is a recurring decimal. Whether at PTF or NNPC, Buhari and 25 billion are like 5 and 6!’.


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