N850bn Loan: Nigerians react as Senate approves Buhari's loan request -

Nigerians have angrily taken to social media to express their thoughts regarding the approval of the Senate for President Buhari’s N850 billion loan.

The plenary session presided over by Senate President Ahmed Lawan which sat on Tuesday April 28, granted the President’s request for a loan of N850 billion.

It would be noted that the International Monetary Fund (IMF) on Tuesday evening also approved the sum of $3.4 billion dollars as emergency support to combat the harsh economic effects of COVID-19 Pandemic

However, Nigerians have taken to social media to express their concerns over the alarming rate at which the nation is amassing debt.

Here are some reactions culled from Twitter;

@ayemojubar

Senate resumed plenary today, approved Buhari’s N850bn loan request and adjourned till further notice. The legislative arm in this country is more deadly than even the executive.

Now I see that our political leaders are run a type of government called MONETOCRACY, That is government of the money, by the money and for the money.

@jackson03522614

At this point I believe this govt has deliberate intensions not only to bankrupt the country but to totally destroy it

@ayemojubar

Buhari’s N850bn: May be Buhari is planning to pay up his loans the same way Rayban Abacha repatriated his. It has to be because the confidence with which he’s going after loans is scary.

@UnusualBobo

External Debt in Nigeria increased to 27676.14 USD Million in the fourth quarter of 2019 from 26941.50 USD Million in the third quarter of 2019. And yet, senate went ahead to approve Buhari’s N850bn. Sad!

@tyv1nci

Buhari’s n850bn is ludicrous and outrageous, when you collect too much loan you’ve FAILED as a business man. #AMUnbroken doesn’t mean your children future is SAFE, We are losing our resources to this loans. How long will this continue?