CUPP Moves to stop FG Foreign Debt Request

…….. Drags Lenders, Presidency, National Assembly to Court.

By Lazarus Zakaa, Abuja

The coalition of United Political Party (CUPP) has Initiated an offensive suit against the Federal Government to stop the proposed borrowing of 22.7billion loan.

The Group also directs the lenders to halt the loan request in view of the pending legal action.

Spokesman of the coalition, Ikenga Imo Ugochinyere who gave the hints in a press briefing on Monday in Abuja said the loan being sourced from various international lender was viewed by the opposition as a poorly execution plan to sell the country into economic slavery and financial colonialism for which it was redeemed by former president Olusegun Obasanjo administration.

Ugochinyere declared that the loan request by president Buhari was the greatest singular act of disservice any leader could have done to the country. He said the loan request is riddled with Project lopsidedness, lack of financial prudence, secrecy, plan to use the loan for frivolous projects, over costing of projects, corruption, misapplication and incompetence.

“We have taken this patriotic action because we believe that the President Buhari led corruption weakened government is just sourcing for funds to consolidate the APC government looting Jamboree and use the left over to prosecute the 2023 general elections and not for the pretense of infrastructural development which it shoddily presented to the National Assembly.

“We therefore condemn the rubber stamp leadership of the Senate for forcing through the approval of the loan by the senate even when the senators has not seen the brake down of the loan expenses as require by the law.” He said

The spokesman further explained that the Senate has clearly demonstrated incompetence and unambiguously shown that they are not by the poor Nigerian people but for their selfish interest.

“Their unpatriotic stand on national issues and lack of vision has become more apparent and have turned the Senate into a chamber filled by political Allelluya boys” he noted.

He noted that the exchange rate of the dollars due to certain vagaries including gross mismanagement of the country’s economy is now chasing 400 to a dollar.

“This means that at this rate, the 22.7billion foreign loan will be equivalent of nine trillion and Eighty Billion Naira. (9,080,000,000,00.) This is more than the entire 2019 budget and just a little less than the 2020 budget.” he explained.

According to the spokesman Nigerians would one day wake up and found out that they are tenants in their own houses. Saying the opposition cannot sit and watch the present regime squander the future of Nigerians yet unborn.

Ugochinyere said it is manifestly clear to Nigerians that what President Buhari need is ideas and competent hands not the 22.7billion foreign loan request.

According to him the problem with Nigeria is not lack of money but that of governance capacity in the regime which from all available indices has made it worse, security precarious and life very cheap, describing the present regime as a disaster, peopled by political allelluya boys.

“We have a government that is more interested in its uninhabited quest for power and holding unto power than knowing what to do with the power for the benefit of the people, after hijacking the parliament, emasculating the judiciary and crushing the electoral process Nigerians are now faced with the consequences of a regime that is hustling like traders in alaba market for Chinese and other foreign loans.

“Nigeria has now been thrown into a state of economic hiatus and quagmire, this is a loan bazaars , a frivolous borrowing, unsustainable come and chop and modern day slavery” he said.

According to him unemployment, insecurity, crushing debt burden, unbridled corruption, emasculation of government institutions, impunity are now the other of the day.

He said the coalition would continue to fight against injustice, with hope to salvage Nigeria yet again from the practice.

“Our patriotic interventions since 2018 have saved the country multiple times from imminent collapse and shall continue to do so for the sake of our children and their children.