$12bn Cash Payment To Service Foreign Debt In 2005, A Wrong Move - Fashola Condemns Obasanjo

Date: 31-07-2021 9:00 pm (1 month ago) | Author: Olusanya Akinrinola
- at 31-07-2021 09:00 PM (1 month ago)
Online (m)

A former governor of Lagos state and Nigeria’s Works and Housing Minister, Babatunde Fashola, has condemned the decision of 2005 Olusegun Obasanjo led government to pay $12 billion in cash to Nigeria’s creditors, out of the $30 billion sovereign debt in 2005.

According to Fashola as at the time tackling infrastructure was the more smarter move and he would have vehemently opposed the action if he was a member of the Federal Executive Council then. He argued that such a huge chunk of cash was better channelled into strategic investment in infrastructure, which would have been used to repay the debt later on.

Fashola, who spoke at a town hall meeting organised by Business Hallmark themed; “Nigeria’s infrastructure revolution; Road to a New Future”, maintained that tackling infrastructure decay was a higher priority than the repayment of the nation’s debt when the decision was taken.


Posted: at 31-07-2021 09:00 PM (1 month ago) | Hero
- Nicelooking123 at 31-07-2021 09:31 PM (1 month ago)
(m)
Stupid Fashiola, but OBJ finally worked hard to cancelled allnour debts...is that a bad move too?
Posted: at 31-07-2021 09:31 PM (1 month ago) | Upcoming
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- mirolam at 31-07-2021 09:48 PM (1 month ago)
(f)
See ordinary current minister thats not been able to implement anything tangible since becoming a minister is telling a former president what he should not have done. Very foolish!
Posted: at 31-07-2021 09:48 PM (1 month ago) | Upcoming
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- vicky987 at 31-07-2021 10:27 PM (1 month ago)
Online (m)
Minister of potholes.
Posted: at 31-07-2021 10:27 PM (1 month ago) | Upcoming
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- gogoman at 1-08-2021 12:30 AM (1 month ago)
(m)
ha ha ha mad minister!! so u want to dey borrow money and u no won pay back abi  Roll Eyes Roll Eyes Roll Eyes Roll Eyes
Posted: at 1-08-2021 12:30 AM (1 month ago) | Addicted Hero
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- WESTSIDER at 1-08-2021 09:20 AM (1 month ago)
(m)
Fashola if you said this as reported you are an idiot.
Posted: at 1-08-2021 09:20 AM (1 month ago) | Newbie
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- larry1970 at 2-08-2021 06:07 PM (1 month ago)
(m)
Stop putting your own people down you dumb phyuk
I bet if it's a fulani you will be quiet
You fulani houseboy fashola the weed smoker
Posted: at 2-08-2021 06:07 PM (1 month ago) | Upcoming
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fire TRENDING GISTS fire

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