Buhari should not borrow any loan until further notice-SERAP

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Socio-Economic Rights and Accountability Project (SERAP) has urged the Speaker of the House of Representative, Femi Gbajabiamila and the Senate president, Ahmed Lawan to deny President Muhammadu Buhari’s request for a new loan.


SERAP made the demand known in an open letter dated September 18, signed by its Deputy Director, Kolawole Oluwadare.


The group demanded that the loan request of 4 billion dollars and 710 million should only be considered after President Buhari gives details of how the loans he has been incurring since May 29, 2015 is being spent.


The letter stated that the National Assembly should not allow the government to accumulate unstainable levels of debt.

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