INTERVIEW: Nigeria owes $64b – Sen Shehu Sani (1)

INTERVIEW: Nigeria owes $64b – Sen Shehu Sani (1)

By Godwin Ekosin, Kaduna

Senator representing Kaduna Central and Chairman House Committee on Foreign and Domestic Debts, Senator Shehu Sani, on Sunday hinted that Nigerian foreign debts is currently stand at $64billion.

He said though, the debts were part of debris left behind by previous administration, the lawmaker vowed that as Chairman, Senate Committee on foreign debts, he will never allow any government functionary taking any loans that does not follow critical procedures and sustainable development plans.

The Senator’s comment may not be unconnected to recent push by some governors to take foreign loans to impress their ‘electorates’.

The activist turned politician, who stated this in Kaduna while briefing some top Journalists on the state of the nation, further said that some states that could not paid the salaries of their workers have over stepped their bounds through excessive borrowing.

“Nigeria is owing about $64billion. This debts was as a result of looting and sharing by previous governments. The era of oil money is over. This is time to think to see how we can diversify our economy.

“The President of Federa Republic of Nigeria must convey economic summit. We don’t need 36 states where governors should be coming to Abuja cap in hand, begging for money to pay salary. We need just six states and single parliament.

“We have not over borrowed. But borrowing should not be the first option. We should find a way of settling our debt through other means. We should borrow only when necessary.

He said, “nobody under my watch can go and take any loan without following due process and tell all Nigerians about it.

“If you are 60-year-old as a governor or president, and you are going to borrow money that will be paid in the next sixty years when you are not going to be there, you are only borrowing to put our children in trouble after you might have gone.

“Many states have over-borrowed and that is why they cannot pay salaries of their workers. We can no longer continue in this manner. If we are borrowing to do project that our children can see and agree that it worth, fine. Anything different will not see light of the day,” he added.

Posted from GoBroadsheet

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