Reject Jonathan's $1bn Loan Request.... Femi Falana Tells National Assembly

A National Conference delegate, Mr. Femi Falana, SAN, has asked the National Assembly to reject the request made by President Goodluck Jonathan, asking for the Assembly’s approval for a $1bn loan to aid the war against the Islamic sects, Boko Haram.

Falana said the President must explain what he had been doing with the budgets made for defence in the past few years.

He said, “The request made by President Jonathan for approval of the Senate for a loan of $1 bn to fight the menace of the Boko Haram sect should be rejected in its entirety. Between 2010 and 2013 over N3tn was budgeted for defence.

“Under the Appropriation Bill signed into law on May 23 this year, 20 per cent of the entire federal budget i.e. the sum of N968.127bn out of N4.962tn was earmarked for defence. The Senate should find out what happened to the defence budget in the middle of the year to warrant a supplementary budget of N160bn.”

But the Coordinator of National Information Centre, Mr. Mike Omeri, said the Federal Government would not spare resources to bring back the schoolgirls abducted from the Government Secondary School, Chibok, Borno State, on April 14.

Omeri was responding to a question from a journalist on whether the resources of the Federal Government had depleted in the fight against terrorism such that it now needed to borrow $1bn to prosecute the war.

The  coordinator said, “Even the United States goes for this kind of facility. For any country involved in such military expedition, not just the Boko Haram issue, but engaged in a number of military exercises, its stock will deplete. Every country must restock to reinforce its capability.

“That is not to say that the resource of Nigeria has finished and therefore we needed to go for loan. It is not cash that will be given to Nigeria. It is a long term facility.

“It is country-to-country kind of process because what the government is looking for is the approval of the National Assembly so that the President can negotiate for arms to consolidate, to reinforce the stock the armed forces have and to guarantee that we will win the war against insurgency and we have an effective and capable assets to prosecute any unforeseen issue. This happens to all countries. It is not exclusive to Nigeria.”

He added, “Once the country is engaged in any kind of activity of this nature, it sure will lead to depletion of resources. So, I don’t think the loan is because the resources are depleted. For the amount so far spent, I am not in a position to say so.

“We are still prosecuting the war. So, it will be preposterous to begin to calculate cost. Don’t forget, our citizens have been abducted. And so whatever we need to do that we must do to get our citizens back, we will do it. The country will do it.”

Jonathan had on Wednesday forwarded a letter to the National Assembly, asking the lawmakers to urgently approve a $1bn external loan for the Federal Government to confront the Boko Haram insurgency.