Shehu Sani, former Kaduna Central Senator, has explained why the 8th senate under Senate President Bukola Saraki turned down President Muhammadu Buhari’s request to borrow $30 billion loan.
Sani, who was the former Chairman, Senate Committee on Local and Foreign Debt, explained that the request was turned down to save Nigeria from sinking.
He made the explanation in response to Buhari’s request that the Senate reconsider approving the federal government’s 2016 to 2018 external borrowing plan rejected by the 8th senate.
However, Sani in a statement said: “We turned down the FG loan request for 30 Billion to save Nigeria from sinking into the dark gully of a perpetual debt trap. We don’t want our country to be recolonized by creditor banks.
“Our external debt in 2015 was…