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General News of Thursday, 4 May 2023


'God will judge all of you' - Concerns as Senate approves Buhari's N22.7tn loan request

Muhammadu Buhari and Senate Muhammadu Buhari and Senate

Many Nigerians on social media have voiced their displeasure in the Senate for approving the President, Major General Muhammadu Buhari's N22.7 trillion loan request.

On Wedenesday, May 3, the Senate granted the President's request to restructure the N22.7 trillion loan from the Central Bank of Nigeria that had been granted to the Federal Government in accordance with the institution's 'Ways and Means' provision.

The 'Ways and Means' provision permits the government to borrow money from the apex bank in an emergency or for a short period of time to cover fiscal deficits caused by delayed government expected cash receipts.

Many social media users including celebritis expressed their displeasure with the news, saying the government only cared about the country's consumption and not its production, and that the President was using the loan request as his last payoff before leaving office.

See comments here:

endylight1: "APC- Association of Professional Crimin@ls, the only thing they know is to Approve and borrow."

demoladex: "I'm waiting for those who tie Tinubu's failure to Buhari's as excuse. Nigeria is gone."

alubarikacoded: "Sign out cash out"

onoski_pato: "Finally taking, congratulations on ur final cashout"

abinibi001: "Agba awo cashout of the century"

governorscousin: "If buhari like he borrow 700 trillion Self! Na UK ???????? we they now"

tos_nigeriaa: "God will judge all of you>"

dapo.olawale: "One for the road"

jnfrpope: "They are only concerned about CONSUMPTION and not PRODUCTION……"


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