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The Socio-Economic Rights and Accountability Project, SERAP, has urged the Senate President, Ahmad Lawan, and Speaker of House of Representatives, Femi Gbajabiamila to reject the fresh request by President Muhammadu Buhari to borrow $4 billion and €710 million.
A letter signed by SERAP Deputy Director, Kolawole Oluwadare, expressed concerns over the growing debt crisis, and lack of transparency in the spending of loans that have been obtained.
The letter implored the National Assembly not to allow the government to accumulate unsustainable levels of debt, and use the country’s scarce resources for staggering and crippling debt service payments rather than for improved access of poor and vulnerable Nigerians to basic public services and human rights.
