Fayose Decries FG's $1bn Eurobond, Says Loan a Burden to Generations Unborn


Victor Ogunje in Ado Ekiti

Ekiti State Governor and Chairman of the Peoples Democratic Party (PDP) Governors’ Forum, Mr. Ayodele Fayose, on Friday described the federal government’s plan to secure Eurobond, which re-payment would last till 2032, as an act like similar to the Biblical prodigal son, expressing the fear that the loan may plunge the nation into prolonged economic misery.

The governor, who challenged the federal to government make clarification as to the beneficiaries of the bond, stated that whether it would be for both the federal government and the federating units or federal government alone, added that: “questions must also be asked on repayment of the Eurobond because deductions from what should accrue to the federation account on a bond to be taken by the federal government for its own use only.”
Details later…