NLC faults Tinubu’s fresh external loan request

By Olayinka Ajayi
The Nigeria Labour Congress (NLC) has criticised President Bola Tinubu’s request to the National Assembly for approval to obtain fresh external loans of $20.5 billion and €1.45 billion, questioning the justification for continued borrowing.
NLC President, Comrade Joe Ajaero, said the basis for the proposed loans was unclear, particularly in view of the Federal Government’s claims of increased revenue following the removal of petrol subsidy.
Speaking on Channels Television’s The Morning Brief on Thursday, Ajaero challenged the government to explain why it continued to seek loans from international financial institutions despite the reported increase in revenue.
“I...