Nigerians Have taken to micro-blogging platform Twitter to air their fears, disgust and disappointments over the intention of the Federal Government to secure a $1.2bn loan from Brazil.
The Heritage Times had on Wednesday, reported that the Federal Government, through the ministry of finance, requested the approval of a $1.2bn loan from Brazil.
The request was made by the Minister of Finance, Budget and National Planning, Zainab Ahmed while defending the budget proposed by her ministry before House of Representatives Committee on Finance in Abuja on Tuesday.
Ms Ahmed explained that the loan will be used to finance agricultural programmes in the 2021 budget.
“For borrowing to improve the industry, we are before the parliament. I request for your approval for loan that we call the Green Imperative Programme which is for loan of $1.2bn from the Brazilian government.
“It is a programme that is addressing the whole of the agricultural value chain from mechanisation, production, processing and selling. It is meant to lend to businessmen for tractors, plants at all levels,” she said
Reacting to the development, Nigerians expressed concerns over what they described as the borrowing spree of the present administration, stressing that it portends doom for the country’s future.
They also expressed fears the Federal Government might start requesting loans from developing countries in Africa.
See some of the reactions below.
So, @NigeriaGov is waiting for the approval of @nassnigeria to borrow $1.2bn from Brazil? Zimbabwe will likely be the next destination! That's how low we have sank in these climes; always ready to go cap-in-hand even to our enemies to borrow money to spend on frivolities.
— Echezonachukwu© (@_echezonachukwu) November 4, 2020
General @MBuhari and his crew are just a shameless bunch. They have over begged and over borrowed from China, Europe and America. And now, they are going to beg and borrow from Brazil. Don’t be surprised if they beg and borrow from Ghana next!#EndSARS https://t.co/Almvql3vtf
— Reno Omokri (@renoomokri) November 4, 2020
https://twitter.com/IamSchBoy/status/1324055827964198913
https://twitter.com/SteveCypha/status/1323908001959452673
You're worried about Trump and Joe Biden in America while your country Nigeria wants a loan of $1.2bn loan from Brazil, yes Brazil! At this rate I won't be surprised if they borrow from Ghana next.
— Yimzy (@oyimzy) November 4, 2020
https://twitter.com/Drelmoatiku/status/1323944757920436224
https://twitter.com/joeshooar/status/1323903496815628289
https://twitter.com/o_kanyy/status/1323905087094300673
https://twitter.com/Officialregha/status/1323893032857542658
https://twitter.com/BismarkOpara/status/1324057973430374405
