Following the request of $500m (N182bn) Loan by Lai Mohammed to ‘bring NTA to standard’, the People’s Democratic Part (PDP) says its for the Cabal.

According to the PDP, this fund is “a Pipe To Service Presidency Cabal” and not for the betterment of Nigeria Television Authority (NTA).

Through her National Publicity Secretary, Kola Ologbondiyan, has told the Minister of Information and Culture, Alhaji Lai Mohammed, to perish the thought of further mortgaging the future of our country by securing $500 million dollars (N182 billion) loan, purportedly for upgrading of the Nigerian Television Authority (NTA).

The PDP also urge National Assembly to save the nation by refusing request by President Muhammadu Buhari to plunge Nigeria “into more debt through his request for additional $29.9 billion dollars loan, in which the said $500 million and other unexplained subheads are embedded”.

The party also implores the National Assembly to reject the clear attempt by the cabal in the Buhari Presidency to worsen the economic situation in our country via the use of phony projects as guise to draw foreign funds to service their selfish economic and political interests.

The PDP goes further, alleging that under the Buhari Presidency, Nigeria’s foreign debt has “accumulated to $83 billion dollars with nothing to show other than excruciating unemployment rate, decayed infrastructure, a worsening governance system, escalated insecurity and unprecedented poverty.”

They alerts that request for the approval of $500 million is aimed at setting the stage for further fleecing of the nation’s economy as the Buhari administration has shown no commitment towards nation building, transparency and accountability in governance.

“Federal Government has failed to present details of the requested $29.9 billion dollars loan in which the $500 million being requested by the Minister of Information and Culture is embedded; a development that points to nothing but the corruption in the Buhari administration.”

Moreso, PDP wants Lai Mohammed to perish the thoughts of $500 million and charges appear at the National Assembly to give account of funds already released to the Ministry of Information and Culture “which has been plagued by cases and allegations of corruption under his watch.”

They also want Mohammed to provide answers to circumstances surrounding the reported National Broadcasting Commission (NBC) N2.5 billion fraud.

The PDP urges the National Assembly to shelve all requests for foreign loans until the Buhari Presidency heed to the demand by Nigerians to open its books and publish details of all financial transactions on foreign loans as well as spending from the federation account so as to “secure our economy from the bazaar of the corrupt cabal in the Buhari Presidency.”