The All Progressives Congress (APC) has stated that the constant borrowing of loans by President Buhari is for the good of the country because it is used for economic growth.
The party said this while responding to the criticism from the PDP over President Buhari’s fresh application for a foreign loan.
The President on Tuesday sent a letter to the Nigerian Senate seeking approval to borrow $4 billion and €710 million external loans.
Defending the fresh borrowing, the party in a statement signed by the secretary of its Caretaker Extraordinary Convention Planning Committee (CECPC) Senator John James Akpanudoedehe, said the borrowings under the APC-led administration were prudently and transparently utilised for the purpose they were secured for.
According to APC, borrowings under the APC were hinged on genuine needs and based on the necessity to strengthen the foundation of the national economy to achieve the desired primary purpose of the government of uplifting the living standard of the citizens.
The statement in part reads;