A chieftain of the African Democratic Congress, ADC, Kenneth Okonkwo, has raised the alarm over the plan of President Bola Tinubu to borrow $20.5 billion and €1.04 billion, about N30.2 trillion on what he described as the “eve of the 2027 general elections”.
Speaking during an interview on News Central Television on Wednesday, Okonkwo said the advice to borrow such a huge amount must have come from a madman and is targeted at vote-buying.
According to him, the loan is not for development but to rig the 2027 election.
“The advice to Tinubu to borrow $20.5b and €1.04b (N30.2trn) on the eve of the election must have come from a madman and is targeted to be used to buy votes,” he said.
Okonkwo also declared that 2027 will be a battle for the soul of Nigeria.
He said, “In 2027, it is either Tinubu goes, or Nigeria goes, but both of them cannot go together.”
Some Nigerians have reacted to his allegation, questioning the rationale behind the huge borrowing at a time the country is already heavily indebted.
The Presidency is yet to react to the allegation at the time of filing this report.