Former President Olusegun Obasanjo has kicked against the Federal Government’s plan to obtain a $29.96 billion foreign loan. Recall as president, Obasanjo successfully negotiated with Western nations to write off $12.5 billion foreign debt to the Paris Club, a body of European creditors during his tenure. Obasanjo was said to have contacted Minister of Finance, Mrs Kemi Adeosun shortly after the media reported the loan bid, which the Federal Government explained would be used to finance critical infrastructure deficiency from 2016 to 2018. Obasanjo spoke last Friday on the proposed foreign loan when he received members of a political association, The National Patriots’ Movement of Nigeria (NPMN), led by the national coordinator, Chief Dosu Oladipo, at his Hilltop residence in Abeokuta, the Ogun State capital.
The former president not only opposed the loan bid, but also threatened to draw a battle line with the Federal Government should it go ahead to obtain the loan which he said could have far-reaching negative effects on the nation. At the meeting, which lasted for about five hours, were more than 70 eminent politicians drawn from all the states in the South-West. Speaking to the members who had come to inform him of the aim of the group and seek his advice, Obasanjo used the occasion of the visit to bare his mind on the debate of the possible emergence of a third force, as the march towards 2019 general election progressed.
According to Obasanjo, the state of the PDP Peoples Democratic Party (PDP), coupled with the internal contradictions in the governing All Progressives Congress (APC) was a pointer to a ‘third force’ emerging in the nearest future. He restated his position that while the PDP was already in the hands of undertakers preparatory to burial, the APC was at an intensive unit because its internal organs were seriously haemorraged. He expressed delight at the calibre and integrity of the members of NPMN, which comprised former ministers, governors, members of the National Assembly, envoys, and other categories of professionals.