Governor Ayodele Fayose of Ekiti State has reportedly asked the Chinese government not to borrow Nigeria $2 billion being sought by President Muhammadu Buhari. Fayose, who travelled to China on Wednesday, April 13, to attend the 119th China Import and Export Fair, otherwise known as the Canton Fair holding between April 14 and 19, three days after the President left for the country to secure a low interest loan. In a letter written to the Chinese authority and dated April 12, the governor said:
“The government of China should be mindful of the fact that Nigerians, irrespective of their political and religious affiliations are totally opposed to increment of the country’s debt burden, which is already being serviced with 25 per cent of the Federal Government annual budget.”
The letter, with reference number EK/GOV/28/10, was addressed to President Xi Jinping of China and delivered by Chief of Staff to the governor, Barrister Dipo Anisulowoin Abuja on Thursday, April 14, through the Chinese Ambassador to Nigeria, Gu Xiaojie.
According to Fayose, some of the projects for which the loan was being sought were not captured in the controversial 2016 budget. It was gathered that Fayose will also deliver a copy of the letter directly to the Chinese President. The letter read in part:
“I write as one of the major stakeholders in the project Nigeria, and a governor of one of the federating units making up Nigeria, to draw your attention to report that the Federal Government of Nigeria is on the verge of obtaining a $2 billion loan from the Export-Import Bank of China”.
“This $2 billion loan is part of the N1.84 trillion the Federal Government of Nigeria has proposed to borrow to finance the 2016 budget, which is yet to be signed by the President, Mohammadu Buhari owing to unending controversies between the Executive and Legislative arms of government.”
“According to reports, Nigeria desires to raise about $5 billion abroad to cover part of its 2016 budget deficit. This is projected to hit N3 trillion ($15 billion) due to heavy infrastructure spending at a time when the slump in global oil prices has slashed the country’s export revenues.”
“While conceding that all nations, especially developing ones need support to be able to grow because no nation is an island, I am constrained to inform you that if the future of Nigeria must be protected, the country does not need any loan at this time.”
“The government of China should be mindful of the fact that Nigerians, irrespective of their political and religious affiliations are totally opposed to increment of the country’s debt burden, which is already being serviced with 25 per cent of the Federal Government annual budget.”
“It will interest the government of China to know that some of the projects for which the loan is being sought are not captured in the controversial 2016 budget, which has been sent to the President by the National Assembly for his assent. For instance, the Lagos – Calabar Rail project was not included in the budget proposal the President presented to the National Assembly and it was not included in the Appropriation Bill passed by the National Assembly.”
“Most importantly, Nigeria is presently servicing debt with about 25 per cent of its annual budget and what will happen to the economy in 2017, when the country will begin to service the additional debt to be incurred this year is better imagined than experienced. The Chinese government must also be aware that some western nations approached by the Federal Government for loan diplomatically and cleverly declined.”
“This must have been informed by the suspicion in the present government’s capacity to salvage the nation’s economy as well as the sincerity in the fight against corruption. More so that Nigeria’s Foreign Reserve, which is the only guarantee for foreign loan has declined to a very uncomfortable level.”
Anisulowo was accompanied to the Chinese ambassador’s office by Deputy Speaker of the State House of Assembly, Hon Segun Adewumi, Chairman House Committee on Information, Gboyega Aribisogan, Chairman House Committee on Health, Dr Samuel Omotosho and Special Assistant to the Governor on Public Communications and New Media, Lere Olayinka.
As the admin of this web site is working, no hesitation very quickly it will be renowned, due to its feature contents.
It’s a pity you don’t have a donate button! I’d definitely donate to this outstanding blog! I suppose for now i’ll settle for bookmarking and adding your RSS feed to my Google account. I look forward to brand new updates and will share this blog with my Facebook group. Talk soon!
Hello, I check your blogs regularly. Your humoristic style is witty, keep it up!
Asking questions are truly fastidious thing if you are not understanding something completely, except this piece of writing provides good understanding even.
When I initially commented I seem to have clicked the -Notify me when new comments are added- checkbox and now every time a comment is added I recieve 4 emails with the same comment. There has to be a means you can remove me from that service? Thank you!
Hey! Quick question that’s entirely off topic. Do you know how to make your site mobile friendly? My website looks weird when browsing from my iphone4. I’m trying to find a theme or plugin that might be able to resolve this problem. If you have any suggestions, please share. Thank you!
Wonderful blog! I found it while browsing on Yahoo News. Do you have any suggestions on how to get listed in Yahoo News? I’ve been trying for a while but I never seem to get there! Cheers
What’s up, just wanted to mention, I liked this blog post. It was helpful. Keep on posting!
Way cool! Some extremely valid points! I appreciate you penning this article and also the rest of the website is also very good.
Aw, this was an exceptionally nice post. Spending some time and actual effort to produce a great article… but what can I say… I hesitate a whole lot and don’t seem to get anything done.
When some one searches for his vital thing, so he/she desires to be available that in detail, thus that thing is maintained over here.
Hello, i read your blog from time to time and i own a similar one and i was just curious if you get a lot of spam feedback? If so how do you protect against it, any plugin or anything you can advise? I get so much lately it’s driving me insane so any assistance is very much appreciated.
This post is priceless. How can I find out more?
Spot on with this write-up, I seriously feel this website needs a great deal more attention. I’ll probably be returning to read through more, thanks for the information!
I like the valuable information you provide in your articles. I will bookmark your weblog and check again here frequently. I am quite certain I will learn many new stuff right here! Good luck for the next!
Definitely consider that that you stated. Your favorite justification appeared to be on the web the easiest factor to be mindful of. I say to you, I definitely get annoyed even as people think about worries that they just don’t recognize about. You managed to hit the nail upon the top as neatly as defined out the entire thing with no need side effect , people can take a signal. Will likely be back to get more. Thanks
When I originally commented I clicked the “Notify me when new comments are added” checkbox and now each time a comment is added I get several e-mails with the same comment. Is there any way you can remove me from that service? Thanks!
Very good blog! Do you have any suggestions for aspiring writers? I’m hoping to start my own site soon but I’m a little lost on everything. Would you suggest starting with a free platform like WordPress or go for a paid option? There are so many options out there that I’m completely confused .. Any tips? Thank you!
I know this if off topic but I’m looking into starting my own blog and was curious what all is needed to get set up? I’m assuming having a blog like yours would cost a pretty penny? I’m not very internet smart so I’m not 100% sure. Any tips or advice would be greatly appreciated. Kudos
Hi! This post couldn’t be written any better! Reading through this post reminds me of my previous room mate! He always kept talking about this. I will forward this page to him. Fairly certain he will have a good read. Many thanks for sharing!
Hello there! This post couldn’t be written any better! Going through this article reminds me of my previous roommate! He constantly kept preaching about this. I most certainly will forward this information to him. Fairly certain he will have a good read. Thanks for sharing!
Hi to every body, it’s my first pay a visit of this weblog; this weblog consists of awesome and really excellent information in favor of visitors.
I want to to thank you for this very good read!! I definitely loved every little bit of it. I’ve got you book marked to look at new stuff you post…
I have read so many articles concerning the blogger lovers however this paragraph is in fact a nice piece of writing, keep it up.
Great article.
Nice blog here! Also your site loads up very fast! What web host are you using? Can I get your affiliate link to your host? I wish my website loaded up as fast as yours lol
Hi there I am so glad I found your weblog, I really found you by mistake, while I was browsing on Aol for something else, Anyways I am here now and would just like to say kudos for a fantastic post and a all round interesting blog (I also love the theme/design), I don’t have time to look over it all at the minute but I have book-marked it and also added in your RSS feeds, so when I have time I will be back to read a great deal more, Please do keep up the superb job.
I read this paragraph completely on the topic of the comparison of newest and previous technologies, it’s amazing article.
I always used to study article in news papers but now as I am a user of internet so from now I am using net for articles or reviews, thanks to web.
Truly when someone doesn’t be aware of after that its up to other users that they will help, so here it takes place.
Why viewers still use to read news papers when in this technological globe all is available on net?
Just wish to say your article is as amazing. The clearness in your post is just nice and i could assume you’re an expert on this subject. Well with your permission let me to grab your feed to keep updated with forthcoming post. Thanks a million and please keep up the enjoyable work.
Saved as a favorite, I like your blog!
Heya i’m for the first time here. I came across this board and I find It really helpful & it helped me out much. I am hoping to present one thing back and aid others such as you helped me.
Hi my friend! I wish to say that this post is amazing, nice written and include approximately all important infos. I would like to see extra posts like this .
This site was… how do I say it? Relevant!! Finally I’ve found something that helped me. Thanks a lot!
Inspiring story there. What occurred after? Thanks!
My brother suggested I might like this web site. He used to be entirely right. This put up actually made my day. You cann’t imagine simply how a lot time I had spent for this information! Thanks!
I really like it when people get together and share thoughts. Great website, stick with it!
We are a group of volunteers and opening a new scheme in our community. Your site offered us with helpful information to work on. You’ve done a formidable job and our entire community can be grateful to you.
Hello to all, how is all, I think every one is getting more from this site, and your views are good designed for new users.
I’ll immediately seize your rss as I can’t in finding your e-mail subscription link or newsletter service. Do you’ve any? Kindly let me understand in order that I may subscribe. Thanks.
Quality articles is the secret to be a focus for the people to go to see the site, that’s what this website is providing.
When I originally commented I clicked the “Notify me when new comments are added” checkbox and now each time a comment is added I get four emails with the same comment. Is there any way you can remove me from that service? Appreciate it!
Howdy! Do you use Twitter? I’d like to follow you if that would be ok. I’m definitely enjoying your blog and look forward to new posts.
We are a bunch of volunteers and starting a new scheme in our community. Your website provided us with helpful information to work on. You have performed an impressive task and our whole group shall be thankful to you.
Fantastic beat ! I would like to apprentice while you amend your site, how could i subscribe for a blog website? The account helped me a appropriate deal. I have been tiny bit acquainted of this your broadcast provided vivid clear concept
At this time it seems like WordPress is the best blogging platform out there right now. (from what I’ve read) Is that what you’re using on your blog?
Excellent site. Lots of useful information here. I am sending it to several friends ans additionally sharing in delicious. And certainly, thank you in your effort!
Fastidious replies in return of this question with solid arguments and telling the whole thing about that.
Saved as a favorite, I like your web site!
I am regular visitor, how are you everybody? This paragraph posted at this web page is truly fastidious.
Hello Dear, are you really visiting this site regularly, if so after that you will absolutely obtain pleasant knowledge.
There’s definately a lot to know about this subject. I like all of the points you’ve made.
Hey there! This is kind of off topic but I need some advice from an established blog. Is it very hard to set up your own blog? I’m not very techincal but I can figure things out pretty fast. I’m thinking about creating my own but I’m not sure where to begin. Do you have any points or suggestions? Thank you
Inspiring quest there. What happened after? Take care!
Please let me know if you’re looking for a writer for your weblog. You have some really good articles and I think I would be a good asset. If you ever want to take some of the load off, I’d love to write some content for your blog in exchange for a link back to mine. Please blast me an e-mail if interested. Cheers!