Ogun NANS Kick Against Loan Demand, Give Ogun State Govt 7 Days Ultimatum To Publish Debt Profile

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The National Association of Nigerian Student (NANS), Ogun State section submitted a petition  regarding the state's initiatives to entice new loans. The student have required for a printed debt profile of the state.

On behalf of over 1 million physical, metaphysical and spiritual students of Ogun state, the Chairman of National Association of Nigerian Students (Ogun JCC), Comrade Falola A. Olasunkanmi said:

" We feel highly disturbed by the way and manner the state government is handling the finance of the state. This displeasure we have registered with the Speaker of the house of assembly on the recent request of the state governor to seek yet another 19billion naira loan while the state debt profile has continue to remain an occultic oath."

"The students will not stay back while our future and that of generation yet unborn is been put in captive. We will resist every attempt to turn the state finance and treasury to pocket money"

See the  statement  published  when you continue after the break.

FG seeks $3.4bn foreign loan for power projects …says Nigerian banks charge high interest rates

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The Federal Government is looking beyond Nigerian banks to raise $3.4bn needed to fund power projects in the country because of high interest rates being charged on loans by local banks.

The Chairman, Presidential Task Force on Power, Mr. Beks Dagogo-Jack, said Nigerian banks had not done enough in terms of understanding how the ongoing reforms in the power sector worked.

He spoke with journalists on the sidelines of the Presidential Power Reform Transaction signing ceremony in Abuja on Monday.

NNPC’s $1.5bn loan fraudulent –NLC

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Organised labour on Thursday said the $1.5bn syndicated loan deal by the Nigerian National Petroleum Corporation was a conduit for looting the nation’s treasury. The Nigeria Labour Congress accused the NNPC of perpetrating a “fraudulent” dependence on fuel importation and looting of the treasury, saying the loan the government’s oil corporation said it needed to pay debts had further exposed the fraud in the management of fuel subsidy.