The decision of the federal government to seek $1.2 billion loan from Brazil has not gone down well with many Nigerians.
When she appeared before the house of representatives committee on finance on Tuesday, Zainab Ahmed, minister of finance, budget and national planning, said the money is meant to fund agricultural programmes.
Ahmed urged the national assembly to approve the $1.2 billion loan from the Brazilian government for the “Green Imperative Programme”.
This sparked outrage on Twitter as many Nigerians wondered why the government would seek loan from Brazil, which is also an emerging economy.
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Below are some reactions:
Very soon Nigeria Govt will start seeking loans from Benin Republic & Ghana😂 https://t.co/hiCDWhtaye
— Etoniru (@waynetipsy) November 4, 2020
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https://twitter.com/o_kanyy/status/1323905087094300673?s=19
FG seeks fresh $1.2bn loan from Brazil 🇧🇷
Brazil is not a poor nation. Their GDP is more than $1.8trillion which you can't compare with Nigeria's own of $445billion. It's just that we no longer have shame. FG may end up borrowing money from Ghana and Benin Republic soon. Shame! pic.twitter.com/HcFfh4W7cT
Advertisement— Uche Ezeonye Official (@uche_ezeonye) November 4, 2020
Small thing, we'll go and borrow from Benin Republic. Suffer head 😌😌
Let's be friends.. Follow me, I follow back. pic.twitter.com/8e2fr3nvjE
Advertisement— H E N R Y (@NjokuUgochukwu6) November 4, 2020
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https://twitter.com/PrinceChi10/status/1323902658416095232?s=19
Before 2023, we will borrow from Benin Republic
Advertisement— . (@Olajvde) November 4, 2020
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Shameless borrow-borrow @OfficialAPCNg Egbekegbe government!
During the @OfficialPDPNig administration, the world was talking about the BRINC nations as an economic bloc – Brazil, Russia, India, Nigeria & China. 5 years of Buharism has removed Nigeria from polite society! https://t.co/lIPCPYS79F
— Babatunde Olalere Gbadamosi (@BOGbadamosi) November 4, 2020
Anyhow you people sha wan borrow, know one thing for sure, my generation is not paying back a dime. https://t.co/e1URqTYwVX
— GODZILLA (@_Samcleave) November 4, 2020
Anyhow you people sha wan borrow, know one thing for sure, my generation is not paying back a dime. https://t.co/e1URqTYwVX
— GODZILLA (@_Samcleave) November 4, 2020
Sigh. Are we done borrowing from the World Bank/IMF? Who will we borrow from next? Zimbabwe? https://t.co/elet0qfj2s
— Dr. Reginald Aziza (@reginaldaziza) November 4, 2020
After Brazil, let's do Trinidad & Tobago https://t.co/8xD8zjIHY5
— Olúṣeun Onígbindé (@seunonigbinde) November 4, 2020
1 comments
We are still not Emancipated! We still carry our Slavery Mentality! GB just declared they will be injecting 150 billion pounds into the economy Where have they got that money from? They borrow it from the Bank of England! Where does the BoE get all the money from? They print it because it is machine that makes money!
They want to borrow $1.3bnn from Brazil, the country that was almost bankrupt the other time! Where will brazil get $1.3bn from? This people are looting the country and pilling the debts on generations that are not even born yet! Will ALL THE DOLLARS BE ON THE STREETS OF NIGERIA?
Of course not! We use Naira! She said the money is meant to fund agricultural programmes. CAN THE NAIRA NOT DO THAT? Why can Nigeria not borrow this money from the Central Bank and pay back the money with interest to the Central Bank? This is how the Caucasians do it! But due to our Colonial Mentality, when we need money, we run to Foreigners (superior). Are they Superior? of course not! The reason is because we will not know how much is collected and how much is actually spent with the money and the beneficiaries.
We have everything NEEDED in the country to carry out this so called programmes. This is why WE NEED RESTRUCTURING RIGHT NOW! The money will go to the Federal Government in Abuja. Where is Abuja? In the north! And who is in charge of FG? The Northerners, who have control of the Houses! They need the money to pay their their law makers those EXORBITANT salaries in their state Assemblies!
This MUST NOT BE ALLOWED TO HAPPEN. GET THE NAIRA FROM THE CENTRAL BANK. THIS IS HOW THEY CARRY OUT THEIR CORRUPT PRACTICES. GET THE MONEY FROM OUR CENTRAL BANK AND PAY INTEREST TO THE CB!
You can Fool most of The Peoples All of The Time, But You Cannot Fool ALL The The Peoples ALL The Time! Some of us know what is happening!