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
NIGERIA LOANS
IMF: $3.359bn
World Bank Group: $10.463bn
African Devt Bank Group: $2.538bn
China: $3.241bn
France: $403.65m
Germany: $192.71m
Japan: $76.69m
India: $34.87m
Eurobonds: $10.868bn
Diaspora Bond: $300mBut still Fg needs fresh $1.2bn loan from Brazil
🤦🏽♂️
— AJAYI OPEYEMI (@IamSchBoy) November 4, 2020
Forget Trump and Biden guys, your country wants to collect $1.2bn loan from Brazil. Brazil fgs. They’ll soon come and beg from Niger Republic😂
— BadMan Cyph (@SteveCyph) November 4, 2020
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
After importing grass from Brazil, @Mbuhari is now begging them for a $1.2bn loan.
After Brazil, which country do you think Buhari will go next begging for money?
Me: São Tomé and Príncipe 🇸🇹@MBuhari has turned Nigeria into a beggar nation @von_Bismack @DokunOjomo @PDP_2023
— Dr. El Mo Victor PsyD™️ (@Drelmoatiku) November 4, 2020
@adeyanjudeji I don't even know how much am I owing to the foreign Nations as a Nigerian after all these enormous borrowings by our FG since they just seek a fresh $1.2bn loan from Brazil.
I'm weak, #Egetwhy#LieLikeLai#USElection2020#HappyBirthdayDorathy pic.twitter.com/bBTGinNsgQ— Ogbeni Ob Sugar ™🌍 (@OgbeniObSugar) November 4, 2020
https://twitter.com/o_kanyy/status/1323905087094300673
Every time you wake up as a Nigerian, just know you are a debtor.
FG is seeking for $1.2bn loan from Brazil.
— Ọlámidé Ọmọreghà 🇳🇬 🇨🇦 (@Officialregha) November 4, 2020
Another $1.2bn loan from Brazil? The next President of Nigeria am saying sorry in advance.
— Onyebuccie 🇳🇬 (@Onyebuccie) November 4, 2020
