The Federal Government, yesterday, explained that the proposed $1 billion foreign loan by the President Goodluck Jonathan-led administration was not only meant to fight Boko Haram insurgents.
The Coordinator, National Information Centre, NIC, Mr. Mike Omeri, who made the clarification during a routine security briefing in Abuja, added that the money would also be used to strengthen the Armed Forces’ capacity.
He said: “The loan is not to fight Boko Haram alone. It was based on the Armed Forces’ request to update their equipment.”
Omeri said the Armed Forces needed to “restock” and upgrade the existing equipment to withstand future territorial and internal challenges.
He said: “We understand they need to restock and the whole request is not for govern-ment to go and collect cash from anybody. “It is a long term arrangement for which most countries of the world are known. It happened in the United States.
“The long term means the Federal Government will use it for the purpose it is meant for and not just Boko Haram. “It is a long term facility that could involve government-to-government arrangement.”
President Jonathan had written the Senate, seeking an approval to take a loan of $1 billion for the fight against terrorism, especially the Boko Haram insurgency.
President Jonathan in the letter addressed to the Senate President, Senator David Mark explained that the loan would be used to upgrade equipment, training and logistics of the armed forces and other security agencies.