Ekiti State governor, Ayodele Fayose has called on Nigerians to reject the $29.9bn loan proposal of President Muhammadu Buhari, stating that it would further depress the country’s economy.

Fayose spoke in Ado Ekiti yesterday while delivering a lecture entitled: ‘Journalism: Antidote to Economic Recession’ to mark the 2016 Press Week of the Ekiti Council of the Nigeria Union of Journalists(NUJ).

Fayose accused Senate President, Bukola Saraki of tacitly supporting the President, stating that Nigerians will reject any attempt to subvert their wishes.

The governor also predicted the downfall of the ruling All Progressives Congress (APC).

He said, “The current situation whereby the federal government is running after perceived opposition suggests that of a man that is interested in pursuing reelection rather than solving economic problems.

“A situation whereby government is borrowing far and above its external reserves means that the 2016 budget will not be implementable because about 30% will be used to service external debt and if this happens, then our economy will go into depression in 2017.

“At the departure of President Goodluck Jonathan’s government, a dollar was at the upper limit of N220 and official rate of N190. But today, a dollar is N477 which shows clearly that Buhari’s government has damaged the economy by 30%.

“As we speak now, Nigeria is gradually entering autocracy . Judiciary no longer has courage to defend democracy. The government is clueless about how to solve the economic problem. All they are pursuing is how to demonise opposition. No justice and justice is the bedrock of democracy.

“If they are really serious about diversification, they should spread the country’s commonwealth. As we speak now, no good irrigation in the whole of southwest . They should stop round-tripping of dollars”.

Azeez