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Buhari borrows another N250 Billion as Nigeria’s debt goes above N38 Trillion

Buhari borrows another N250 Billion as Nigeria’s debt goes above N38 Trillion

President Buhari has requested for an extra N250 billion from Sukuk bond. 

This was announced by the Debt management Office (DMO) in a post on its website that Buhari’s government offered for subscription N250 billion road Sukuk instrument for N1,000 per unit, indicating that the instrument was issued by “FGN Roads Sukuk Companies 1 Plc”.

The Sukuk instrument will be listed on the Nigerian Exchange limited and FMDQ Securities Exchange Limited. 

It is “classified as liquid asset by the Central Bank of Nigeria, and certified by the Federal Regulatory Advisory Council of Exports (FRACE) of the Central Bank of Nigeria,” the report stated. 

As it stands at the moment, Buhari has borrowed more money than any Nigerian government. We have never seen a more careless government in the history of our great nation. And unless we as a people are able to stop these goons and liars, a day will come when the likes of China will take over a majority of Nigeria’s infrastructure because we couldn’t afford to pay for our loans

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Sad thing is, we can’t see what these monies are being put into. Nigerian politicians borrow money only to stash it away in their foreign banks.

Who is going to pay for Buhari’s debts?

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