Saturday, 18 June 2016

Governments at all Level should Learn how to Consult their Citizens before taking Loan - Senator Shehu Sani




NAIJA NEWS:

The Chairman, Senate Committee on Foreign and Local Debts,  Senator Shehu Sani, on Friday pleaded with Governments at all levels to always consult their citizens before taking loans either from  local or foreign sources.

He said the people and not the government functionaries usually suffer the hardships and pains as direct victims whenever the loans were being repaid.
Sani stated this at a retreat organized by the Debt Management Office in collaboration with his committee in Minna, the Niger State capital.

According to GutsyNaija, Senator Sani described foreign debt as new colonialism and new form of slavery and   therefore urged African countries and developing nations to thread with caution while applying for loans from external sources.
He claimed that the global politics and economics were using loans to chain African nations to reverse their political independence and sovereignty.
The senator said, “There is the need to create a citizen advocacy on debt awareness in order to sensitize the public on both the relevance and implications of borrowing since they are the ones to ultimately pay for it.
“African nations, including Nigeria, must free themselves from the debt trap and think of alternative sources of funding their developmental activities.
“If we pile up debts without justification for them, our children will walk pass our graves covered with weeds.
“Foreign loans given to African states attached with political conditions which undermine their political independence and sovereignty should be rejected.”
According to GutsyNaija the Senator, however, expressed confidence that President Muhammadu Buhari’s administration would prudently utilize loans it secured on behalf of the country.
He said,  “In as much as Nigeria and other developing nations need to borrow from local and foreign sources, we must be careful not to pile up debts for the future generations without commensurate and visible infrastructure and legacies to justify such liabilities.
“Africa is still in the orbit of imperialist economic grip. Africa’s ruling political elite still live in the illusion that foreigners will still come and build and develop their countries.
“The moral and economic scores of any government are not about the wealth it created, but the poor it lifted out of poverty.
“If we continue to legitimize borrowing without caution, we will end up buried in debt because each time a nation borrows, it morally parts with a potion of its dignity until such loans are repaid.”
Meanwhile, the Senate President, Dr. Bukola Saraki, on Friday asked the Senate ad-hoc Committee on Constitution Review, led by his deputy, Ike Ekweremadu, to consider every opinion and allow as many ideas as possible for discussions.
Saraki, in his speech at the retreat organised by the committee in Lagos, said Nigerians were looking up to members to provide a new direction towards cementing the unity of the country through their recommendations.
He expressed confidence that deliberations at the retreat would be robust, courageous and vibrant.
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