Change Ministry Of Finance To Foreign Loans And Debts Accumulation – Civil Society Group To President Buhari

The Civil Rights Writers Association of Nigeria has asked President Buhari to change the name of the Federal Ministry of Finance, Budget and National Planning to the Federal Ministry for Foreign Loans and Debts Accumulation after being distressed about the numerous foreign loans collected by the Buhari administration since taking office in 2015,

The amount of loans requested by this administration is becoming concerning, according to a statement signed by its National Coordinator, Emmanuel Onwubiko, and its Media Affairs Director, Zainab Yusuf, and titled ‘Rename Finance Minister To Minister Of Foreign Loans Collection:- HURIWA Tells President Buhari.’

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The statement was made in response to the Senate’s recent approval of the President’s request to borrow N2,343,387,942,848 to help pay a portion of the N13 trillion government budget for 2021.

“We honestly think that the President should table before his weak Federal Executive Council the proposal for a change of name of the Federal Ministry of Finance, Budget and National Planning to the Federal Ministry for Foreign Loans and Debts Accumulation.

This is because Nigerians have come to see that the Minister of Finance Zainab Ahmed does nothing else than inundating Nigerians with the bad news of the constant requests from all kinds of places around the world for external Loans which are actually not been utilised to grow the economy or advance the living conditions of Nigerians but these huge loans are used to service the ballooning costs of running government and paying juicy allowances to Federal government officials.”

The group accused the administration of obtaining foreign loans to fund their opulent political lifestyles.

”The federal and state governments in Nigeria are in the bonanza of collecting foreign credit facilities and loans so as to finance the ostentatious political lifestyles of the politicians in the corridors of power.

This is the new kind of enslavement which must be resisted. Whereas these government officials collect loans and fritter to fund their expensive lifestyles, millions of Nigerians have become impoverished over time.

Infact only two years back, Nigeria became the home to over 90 million absolutely poor citizens and the poverty capital of the World even whilst the nation is still very rich in terms of mineral and crude oil resources whose revenues are looted heartlessly by officials,” the statement read

The group also chastised the National Assembly’s leadership for consistently supporting loan requests.


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