Nigerians hit Fashola over attack on Obasanjo for using $12bn debt cancellation to pay creditors

October 3, 2020
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<!– Fashola and Obasanjo –>

Fashola and Obasanjo

By Kazeem Ugbodaga 

Nigerians have descended heavily on Minister of Works and Housing, Babatunde Fashola for  blaming former President, Olusegun Obasanjo for using Paris Club’s $12 billion debt cancellation to pay the nation’s creditors rather than using the fund to build roads and rails.

Fashola had in a interview on Channels TV blamed Obasanjo, as partly responsible for Nigeria’s weak infrastructural base, saying that instead of paying off Nigeria’s external debts, the ex-Nigerian leader should have invested in capital projects across the country.

According to Fashola, previous governments that had access to a lot of money, under-invested in the country’s infrastructure, saying if he had the $12 billion, like the Olusegun Obasanjo government in 2005, he would have built rails and more roads.

In 2005/2006, the Paris Club wrote off $18 billion or 60 per cent of the $30 billion Nigeria owed the cartel, after months of negotiations, a development touted as one of the biggest achievements of the Obasanjo administration.

Fashola said that rather than deploy the funds prudently, the Obasanjo government decided to pay the country’s creditors to the detriment of the country, insisting that today, Nigeria has gone back to borrowing because the governments in the past ignored investment in infrastructure.

Nigerians on twitter attacked Fashola for questioning Obasanjo’s ingenuity in using the money to pay creditors.

Fashola is currently trending on twitter for the wrong reason.

A twitter user, Autos  Boss, said Fashola should hide his face in shame and never speak again.

A user, Mukolu Lukas said the day Fashola decided to follow president buhari, that was when his brain was twisted, saying that instead of now thinking forward, he is now thinking backward.

Emeka Anene said Fashola should have completed the Lagos Metro line, and that instead he folded his arm blaming Obasanjo.

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