An All Progressive Congress, APC lawmaker representing Kogi West in the Senate Dino Melaye has said the Buhari-led federal government has borrowed N11trn with three years, surpassing the N6trn borrowed by the Peoples Democratic Party, PDP, in its 16 years in power.
Raising a Point of Order on the floor of the Senate on Wednesday, Mr Melaye disclosed that about $5.5bn was borrowed from euro bond, wondering how the loan has been of benefit to the Nigerian youth.
Mr Melaye said, “Also, N500bn was earmarked for the social investment programme of the Federal Government, but we have not seen any impact.”
“Without fear or favour, the Peoples Democratic Party, in 16 years, borrowed N6tn and this government in three years, has borrowed N11tn but there is no specific programme that will empower the youth.”
“Also, N500bn was earmarked for the social investment programme of the Federal Government, but we have not seen any impact.
“If the Peace Corps is given an opportunity to exist, thousands will be employed and this will help to fight unemployment in this country.
“We may need to write Mr. President to review his position; if not, we have the power on behalf of the Nigerian youths who voted us to veto him so that people will become the ultimate beneficiaries of this bill.
“The youth of this country must be given priority and they must be respected,” he said.
Thereafter, the Senate urged the President to review his position in withholding assent on the bill.
