The Peoples Democratic Party (PDP) yesterday said it is shocked by, the plan by the federal government to seek a loan of $5.5bn.
The party said that the loan would plunge Nigeria into further debt, and consciously mortgage the future of unborn generations through needless and mindless borrowing of the sum.
A statement by the spokesman of the party, Dayo Adeyeye said the PDP like other well meaning Nigerians, consider the new bid for a foreign loan of $5.5 billion by the administration of President Buhari as an attempt to push the nation down into the black hole of debt that will affect negatively, the future of Nigeria.
The statement also noted that the figure released recently by the. Debt Management Office (DMO) that the nation under the administration of the APC government in the last two years of being in office, has borrowed N7.51 trillion, is mind-boggling.
The PDP expressed worry as major stakeholders in the Nigerian project, that if the National Assembly does not stop this latest demand for foreign loan, the money when released, will go the way other loans obtained in the last two years without any tangible result to show for it.