Zonal Publicity Secretary of The All Progressive Party(APC)South-East region, Hyacinth Ngwu in Enugu yesterday, appealed that the Senate reconsider its rejection of the $29.680 billion loan requested by President Muhammadu Buhari for provision of infrastructure between 2016 and 2018.
He pointed out that the rejection was ill-advised, and an ill-wind that would not blow anyone any good.
Ngwu, in a statement said: “We believe the loan, which is within the acceptable Debt Management Office, DMO, debt threshold of 19.39 per cent for External Debt/GDP ratio and far below 56 per cent debt threshold for External Debt/GDP ratio by the World Bank’s Country Policy and Institutional Assessment, CPIA, for countries in Nigeria’s peer group, respectively, is sustainable in the medium term.”
