The Senator representing Ekiti Central Senatorial District, Opeyemi Bamidele, said on Thursday the National Assembly was not a rubber-stamp contrary to insinuations by most Nigerians.
Bamidele stated this shortly after a news conference held at the All Progressives Congress (APC) National Secretariat in Abuja.
He said: “It is not going to take us any inch forward. It is only going to be a highway to nowhere.
“We have been through this path before and I don’t think anybody benefitted from it.
“People accused the parliament of approving loan requests of Mr. President. The question again then is, what did we do that people didn’t do in the United States, in the United Kingdom, all over Europe and other parts of Africa.”
Bamidele noted that the essence of the loan “was because the country’s income had fallen to almost its lowest ebb.”
He added: “When we planned the 2020 budget, it was predicated on the fact that crude oil will sell at $54 per barrel, and because of COVID-19, this did not happen.
“It fell to as low as $24 per barrel, meaning that we were no longer in a place to fund our budget.
“Part of what economists will tell you is to ensure that money continues to circulate, and for government to do that, definitely they have to borrow.
“Could we have said because we don’t want to be labelled a rubber-stamp parliament, we would not approve these loans?”