The PDP has asked the National Assembly to probe the increasing borrowing by the APC-led government which has allegedly led to a national debt of N24.38 trillion.
The PDP, in a statement, yesterday, by its National Publicity Secretary, Kola Ologbondiyan, argued that the debt profile in 2015 was N12.12 trillion but later rose to N24.38 trillion because of alleged APC government’s incompetence and lack of initiative to stimulate and run a productive economy.
The PDP said the current government relied on heavy borrowings and unbearable tax regimes, which allegedly crippled productivity, caused untold hardship and mortgaged the economic future of the nation.
The party specifically urged the National Assembly to commence a system-wide investigation into the borrowings by the Buhari administration, particularly the terms of the borrowing and the handling of the funds.
The leading opposition party also demanded the National Assembly to restrict the Buhari administration from taking further loans on behalf of the country until explanations were provided on the terms and handling of the borrowed funds.
