Romance Over As Buhari Bars Obasanjo From Aso Rock .

President Muhammadu Buhari, has finally
dumped ex-President, Olusegun
Obasanjo’s advice, to halt the plan to
$29.9 billion.
Recall, that Obasanjo, had few weeks
ago in a scathing remark, called on the
President, to shelve the thought of
borrowing $29.9 billion, to fund capital
projects across the States.
The former President, had asked Buhari
to stay off the loan, saying that it would
mortgage the nation’s future.
“I believe that going for a huge loan
under any guise, is inadvisable, and it will
amount to going the line of soft option,
which will come to haunt us in
future.“We immediately need loans to
stabilise our foreign reserve, and embark
on some infrastructure development, but
surely not $30 billion, over a period of
less than three years,’’ Obasanjo had
said.
However, latest report revealed that
Buhari has decided to ignore calls that
he should shelve plans to borrow $29.9
billion, and has distanced himself from
the ex-President. A source said: “We
are going ahead with the loans, but we
will allay the fears of ex-President
Obasanjo with necessary documents on
the sources and plans.“I think the ex-
President needs some details. We are
certainly going to engage Obasanjo. We
will not take issues with him in the
media.
“It is to the credit of Obasanjo, that he
secured debt reliefs for the nation. We
want him to realize that we are not out
to pile up fresh debts for the nation.
“These loans are coming from some
liberal creditors, including the World
Bank, Africa Development Bank (AfDB),
Islamic Development Bank (IDB), Japan
International Co-operation Agency (JICA),
and China EximBank.
“What Nigerians do not know, is that we
had many offers, but were careful in
selecting our loan facilitators. “For
instance, the Buhari administration
rejected loan offers from the
International Monetary Funds (IMF),
because of Nigerians’ attitude to the
international agency for such a bail out in
1990. “Yet out of the $29.9 billion loans,
the Federal Government’s share is $25.8
billion, while the States will enjoy $4.1
billion facility.”
The source added: “There is no way we
can even implement 2017 budget without
the loans. We are in dire straits. We
need some breather to revive the
economy.“It is not physical cash as
being assumed. All the institutions will
be involved in the management of the
loans to ensure judicious use.
“And for a prudent government like that
of Buhari, there is 100 percent
assurance that the loans will not be
mismanaged, unlike the case in the
past.”
Responding to a question, the highly-
placed source added: “The government
has mandated the Minister of Finance,
Mrs. Kemi Adeosun, to engage the ex-
President on the indices behind obtaining
the loans. Our hands are tied, because of
lack of funds to implement laudable
projects.
“The Minister will then return with a
feedback from the ex-President on how
we can manage the loans better.
Fortunately for Buhari, the Minister is
more or less a “goddaughter” of
Obasanjo. “Whatever is the
communication gap, we will use the
engagement with Obasanjo to clear the
air”.

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