This is nothing short of an insult to the intelligence of Nigerians as the same government has tendered before the National Assembly requesting for fresh Domestic and International Loans to bridge the 2025 budget.
How can a government boasting of “record revenues” still rush to the Senate, cap in hand, seeking fresh loans both locally and internationally?
Tinubu led APC anti people government formally requested an approval from the National Assembly to borrow N1.15 trillion from the domestic debt market to plug the funding gap in the 2025 budget.
The said proposal was presented in a letter that was read on the floor of the Senate during Tuesday’s plenary session by Senate President Godswill Akpabio
This contradiction exposes not fiscal success but hypocrisy and economic mismanagement of the APC led pro Terrorists Regime.
An administration that truly meets its revenue targets should be reducing debt, stabilizing the economy, and improving citizens’ welfare — not piling up more loans while the people drown in inflation, unemployment, and hardship.
Tinubu’s government has mastered the art of propaganda while abandoning the principles of accountability. Behind the glossy speeches and inflated figures lies a harsh reality: Nigeria’s coffers are empty, trust is broken, and leadership has become addicted to debt and deception.
Meeting revenue targets should bring relief and stability, not more suffering. Until transparency replaces rhetoric, every such claim remains a mockery of the struggling Nigerians.
According to the available information about the new loan application, he borrowing is intended to “bridge the funding gap and ensure full implementation of government programmes and projects under the 2025 fiscal plan.”
Following the reading, Senate President Akpabio referred the request to the Senate Committee on Local and Foreign Debt (chaired by Senator Aliyu Wammako) for detailed scrutiny.
The committee has been directed to submit its report within one week.
This domestic borrowing request comes amid parallel efforts by the Tinubu administration to obtain external financing.
In late October, the House of Representatives approved a $2.35 billion external borrowing plan, which includes refinancing maturing Eurobonds and issuing Nigeria’s first sovereign Sukuk.
Meanwhile, National Assembly has also approved a broader external debt package of over $2.8 billion to part-fund the 2025 deficit.
Observers note that Nigeria’s public debt burden has been rising rapidly.
In July, the Senate approved a sweeping external borrowing framework exceeding $21 billion to cover infrastructure, health, security, and other needs.
No comments