Nigeria: Caution urged on debt repayment

A group, African Network for Environment and Economic Justice (ANE-EJ), has called on the National Assembly to reject a proposal sent by President Olusegun Obasanjo to settle London Club debt at the expense of key development challenges in Nigeria. The group said it condemned a letter dated May 24, 2006 which President Obasanjo sent to Senate President, Ken Nnamani, asking that the recent $12.12 billion as debt to the Paris Club of creditors should be followed up with $2.15 billion to the London Club.