A former presidential candidate of the African Democratic Party (ADP), Professor Kingsley Moghalu has condemned the plans by the federal government of Nigeria to obtain fresh loans from the World Bank.
He also berated the plans to purchase exotic vehicles for the lawmakers of the 10th National Assembly.
According to him via a message posted on his account on the X platform on Monday, both moves are a sign of a real problem in Nigeria and further demonstration that the leaders of the country are not serious.
Bellnews reports the Minister of Finance, Wale Edun has confirmed that Nigeria is expecting a $1.5 billion loan from the World Bank as budget support while the House of Representatives has also concluded plans to share brand new official vehicles to members amidst the hardship going on in the country.
Reacting to the development, Moghalu expressed worries about both developments. He wrote: “There is a real problem when Nigeria is set to borrow another $1.5 billion from
@WorldBank for budget support, and SUVs worth N160 million each are reportedly to be bought for 360 members of the House of Representatives. We are not yet serious as a country.”