Buhari Supporters Slam Atiku On China Loan

The Buhari Media Organisation (BMO) has said that Nigeria is not under any threat of ceding its sovereignty to China, or even falling into any so-called debt trap, contrary to the misconception latched on to by the Peoples Democratic Party (PDP) and its failed presidential candidate Atiku Abubakar.

In a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke, BMO said there is no basis for a doomsday scenario on a debt stock that is not more than 11% of the country’s external debt profile.

“It is not surprising that Nigerians have in recent days been fed with half-truths and outright disinformation on the nation’s debt stock by a section of the political class and professional mischief-makers.

“But what is baffling is how a party with an official policy of profligacy, and it’s serial Presidential hopeful, are deliberately jumping on the disinformation train, in an attempt to score cheap political points.

“Should it not be a surprise that the PDP singled out a $500m loan in its statement criticizing Chinese loans? Is it not the same party that was in power when Nigeria took loans exceeding $2bn from the same country, including the $470m spent on what Nigerians now describe as Abuja CCTV scam?

“We need to emphasise that what has been misinterpreted as ‘ceding sovereignty’ to China is simply a case of sovereign guarantee in the case of default in repayment, and like the Transport Minister Rotimi Amaechi has explained, it is tied to the infrastructure that the loan is meant for.

“But in the midst of all these, we need to remind Nigerians that it’s not in the place of the party, or Atiku, to intervene in our fiscal affairs having generated federal revenue of more than $800bn in their 16 years in office, but still left a $63bn public debt burden with absolutely no capital stocks in terms of infrastructure to show for it.”

The group reassured Nigerians that President Buhari is not like any PDP era President, and would never be a party to a deal or deals that would set the country back.

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