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Melaye: PDP borrowed N6trn in 16 years, APC in debt of 11trn in three years

Dino Melaye, senator representing Kogi west, says the All Progressives Congress (APC)  under President Muhammadu Buhari has accrued N11 trillion debt in three years, as against N6 trillion borrowed by the Peoples Democratic Party (PDP) in 16 years.

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Online publication theCableng reports that Melaye said this while speaking at the upper legislative chamber on Wednesday.

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The lawmaker said despite floating many Eurobonds, “there is no specific programme” to empower the youth.

 

He spoke in reaction to the rejection of Peace Corps bill by President Muhammadu Buhari.

 

“About $5.5bn was borrowed from euro bond; what part of it will the youths of this country benefit from?” he asked

 

“About $1bn is to be spent on security and how does this affect the youth of this country.

 

“Without fear or favour, the Peoples Democratic Party, in 16 years, borrowed N6tn and this government in three years, has borrowed N11tn but there is no specific programme that will empower the youth.

 

“Also, N500bn was earmarked for the social investment programme of the federal government, but we have not seen any impact.

 

“If the Peace Corps is given an opportunity to exist, thousands will be employed and this will help to fight unemployment in this country.”

 


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