Hundreds of Nigerians Sign Petition To Block Fed. Govt. Borrowing $2.5 Billion From World Bank

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Hundreds of Nigerians have already signed a petition by Global Coalition for Security and Democracy in Nigeria demanding abdication of the proposed latest loan for $2.5 billion from the World Bank.

The petition titled “STOP WORLD BANK FROM GRANTING $2.5BILLION LOAN TO NIGERIA. WE DON’T TRUST OUR POLITICIANS!” seen here reads:

*After writing off our $18 billion debt by the Paris Club in 2005, the Nigerian  government went back to a borrowing spree without development plans for the future. Now there is very little or nothing on ground to show for what they have been borrowing for.

*We are already indebted to $81billion or 24 trillion naira.

*Frustration has led to increased suicide rate as we are now 67th highest in the World.

*Now we are the poverty Capital of the World and projections by the UN shows that we shall remain so beyond 2050.

*Our Senators are the highest paid in the World and they are already shopping for cars worth 5.5 billion naira ($17million) because they are very insensitive to our plights.

*16 million of our children are on the streets. Many are under child labour hawking to support their families, snatched as suicide bombers or used for rituals.

*$16m was borrowed to buy mosquito nets. This could not be accounted for.

*87 million of us live in extreme poverty as the World mocks the silence of Nigerians who have 34 mineral resources spread across 430 locations.

*Some persons that were indicted for various corruption cases have been appointed by the current government as Ministers. These are the same persons that will manage the expected loan!

Nigerian President Muhammadu Buhari speaks at a joint news conference with his French counterpart Francois Hollande at the presidential villa in Abuja, Nigeria, May 14, 2016 REUTERS/Afolabi Sotunde – RTSEA1D

*In 2018 the court ordered President Buhari to prosecute the Senators that padded our 2016 national budgets by 481 billion naira which is around $1.5 billion. The President intentionally refused to comply with court order. That amount could have built 10 hospitals in each of the 36 states of Nigeria.

*Politicians continue to rig elections to impose poor leadership.

*Nigerians are currently escaping hardship. We are the highest number of Africans that die on the Meditarranean Sea in search of greener pastures.

*After looting, they impose taxes on us. VAT has just been increased from 5 to 7.2%, including the introduction of other bank service charges.

*Insecurity and the inability of government to provide stable electricity has further compounded the challenges of production. Unemployment rate will jump to 33.5% in year 2020.

*   Many states in Nigeria are currently struggling to pay salaries and the minimum wage which is barely $84 monthly. Kogi State of Nigeria currently owe 39 months salary arrears to its 7000 teachers. Former State governors stole so much money and left their various states in huge debts. Nobody is asking them.

* Nigeria spends over 50% of her budget in paying old debts. Our future as a country has been robbed by an extremely greedy few!

WE SAY A RESOUNDING NO!! TO FURTHER DEBTS BY THOSE THAT HAVE REFUSED TO ACCOUNT TO US. THIS HARDSHIP MUST NOT CONTINUE!!!

HE THAT GOES BORROWING GOES SORROWING.

*Powered by the GLOBAL COALITION FOR SECURITY AND DEMOCRACY IN NIGERIA.

The views expressed in this article belong to the author and do not necessarily reflect the editorial policy of NewsRescue
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