- The decision to suspend the federal government's $22.7billion loan has been revealed
- The Speaker of the House of Representatives, Femi Gbajabiamila revealed the reason why hosting Leaders of Faith Forum
- The group had called on the Nigerian government to jettison the idea of taking the loan
The Speaker of the House of Representatives, Femi Gbajabiamila has given reasons for the suspension of the federal government's $22.7bn loan sought from the China Exim Bank.
The Speaker said it was because of the agitation that the southeast would not benefit from the loan that the House stepped down its consideration.
According to him, he had personally spoken with the finance minister and the director-general of the budget office to find a solution.
Gbajabiamila made the comment while responding to the position of the Leaders of Faith Forum that the Nigerian government should completely jettison the idea of taking the loan.
His words: “What I think for me is more important is the equity of the law and whether or not we're able to distribute these things fairly considering the very nature of the structure of our country.
“I know there has been a lot of agitation about southeast not benefiting from the loan. It is one of the reasons we haven't considered the loan in the House. I've discussed with the finance minister and the DG Budget.
“It's a matter that we're looking at seriously. I'm hoping that there will be some kind of amicable resolution so that everybody will be carried along. Equity suggests that all zones must be carried along.”
Recall that a southeast group recently petitioned the China Exim Bank to suspend or cancel the $22.7 billion loan due to the Nigerian government.
In a letter to the Chinese bank, the Igbo Board of Deputies warned that it would join the bank in the suit against the Nigerian government if it fails to heed to its demand.
The group insisted that the bank suspends disbursement of the loan or cancel it in the alternative until Nigeria revised or amended the way she intends to allocate the loans and includes projects in the southeast region of the country.
Part of the letter read: “We shall join China Exim Bank as a defendant party to the lawsuit against the Federal Government of Nigeria.
“We say so because we do not guarantee the repayment of these loans by the other federating units of Nigeria in so far as the deliberate discrimination against the Igbo in Nigeria persists.”
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