Labour Party Commends House of Reps Speaker Abbas for Alarm On Tinubu's Reckless Borrowing, Tasks Akpabio to Follow Good Example

By Prince Tony Akeni, Labour Party National Publicity Secretary (Interim)

The Speaker of the House of Representatives, Mr. Abbas Tajudeen, after his initial catharsis of truth on the prodigal and dangerous borrowings of President Tinubu's APC administration on Monday has, in the last 18 hours, been telling Nigerians that his statement was quoted out of context. 

But that is not true. If he has come under pressure by his party's hawks and blows by the long hammer of President Bola Ahmed Tinubu from his vacation beach in Europe to recant, Nigerians are good at understanding, so we can understand.

For avoidance of doubt, speaking yesterday September 8, 2025 at the opening of the 11th Annual Conference and General Assembly of the West Africa Association of Public Accounts Committees (WAAPAC), which took place at the National Assembly, Abuja, below is what Speaker Abbas said, verbatim:

_“As at the first quarter of 2025, Nigeria’s total public debt stood at N149.39 trillion, equivalent to about US$97 billion. This represents a sharp rise from N121.7 trillion the previous year, underscoring how quickly the burden has grown. Even more CONCERNING is the debt-to-GDP ratio, which now stands at roughly 52 percent, well above the statutory ceiling of 40 percent set by our own laws._

_"The BREACH of the debt limit is a signal of strain on fiscal sustainability... THERE IS NEED for stronger oversight, transparent borrowing practices, and a collective resolve to ensure that tangible economic and social returns match every naira borrowed.”_

_“This is not just a budgetary concern but A STRUCTURAL CRISIS that demands urgent parliamentary attention and coordinated reform._

_“Borrowing should support infrastructure, health, education, and industries that create jobs and reduce poverty. RECKLESS DEBT THAT FUELS CONSUMPTION OR CORRUPTION must be exposed and rejected. Oversight is not just about figures, but about the lives and futures behind those figures."_

When there is too much sand in a soup, even the blind will notice. That is what Rep Tajudeen Abbas, the APC's own Speaker of Nigeria's House of Representatives, has done. 

Nigeria's astronomical debts without the benefit of visible economic and infrastructure development for the citizens on behalf of whom they are borrowed, the dangers the debts hold for the country's future are so grave and frightening that Speaker Abbas could not hide it from the world. 

Speaker Tajudeen Abbas also did not hide the fact that his own party's administration led by President Tinubu is responsible for the country's public debts peril to Nigerians born and unborn.

For Nigerians to appreciate Speaker Abbas' sense of alarm, one must put in perspective the facts. 

Both the Debt management Office and CBN's published data available to the public confirm that in the first 90 days of this year alone, Nigeria's public debts soared from #121.7trillion in December 2024 to #149.39trillion.

What is more frightening is that as Speaker Abbas pointed out, in the same three-month period the debt-to-GDP ratio resulting from these debts rose to 52%, which is far above the highest safe limit of 40% set by Nigeria's own fiscal laws. 

What further worsens the alarming nature of the country's debts is the revelation that in the last nine months, Nigeria used N8.93trillion or $6.2billion to service her debts. This means that 61% of the country's revenues of #14.55trillion earned during the same period went into debt servicing!

Choosing his words carefully for minimum image damage to his party, even Speaker Abbas could not escape admitting that this is an extreme breach of the debt ceiling and revenue security threshold set by Nigeria's fiscal laws.

Yet, not done, President Tinubu, even as he jetted out to France last week on a 10-day vacation, is seeking a new World Bank loan, a proposal of which Labour Party has learned is currently being prepared for Senate President Godswill Akpabio's "ayes have it" National Assembly choir. 

The public might condemn Speaker Abbas as a co-culprit crying wolf over a collective guilt for Nigeria's calamitous debts profile since, as Speaker of the National Assembly, he presides over one of the two legislative chambers which approved Tinubu's borrowings. 

True as that may be, Labour Party believes that Speaker Abbas' admission of President Tinubu as the architect-in-chief of Nigeria's skyscraping debts, although coming somewhat late, calls for commendation more than condemnation at this point. This is especially so if his alarm will help put some breaks on the APC administration's recklessness in loan procurements. It is better late than never.

The Labour Party enjoins all Nigerians to join Speaker Abbas' call advocating, in his own words, "stronger oversight, transparent borrowing practices, and a collective resolve to ensure that tangible and social returns match every naira borrowed." 

At this juncture of our country's captivity in the grip of President Tinubu's fiscal management disasters, there is not a more cogent, urgent and compelling call to duty to God and country as the one being made now by Speaker Abbas.

Finally, the Labour Party wishes to recommend to Senate President Godswill Akpabio to emulate Speaker Abbas. Taking the initiative and leading from the front ahead of Akpabio, Mr. Speaker has shown the Senate President a resounding example of objective patriotism by the call to put Nigeria first henceforward in all public loans procurement through responsible oversight.

Going forward, both the Speaker and Senate President should act in accord to ensure that wayward and prodigal borrowings proposed henceforth by the Tinubu administration, which do not have clear achievable blueprint for tangible benefits in infrastructural development, economic wellbeing and security of Nigerians are outrightly rejected and thrown out.

In particular, before Senate President Akpabio accepts another loan request from President Tinubu and railroads his assembly of she-men to chorus "the ayes have it," he should remember history. Any people pushed to the wall by grinding poverty with nowhere to turn would defy all one day and turn on their oppressors. 

The solution to preventing this is to end altogether the APC government's prodigal borrowing and squandering of loans. The alternative is to, at the minimum, heed Speaker Abbas' recommendations of strict oversight over loans and ensure commensurate returns in benefits to Nigerians.

Tony Akeni Le Moin

September 9, 2025

Borrowing to loot: Tinubu Seeks Senate's authorization to borrow 21.5 billion dollars, EUR 2.1 billion and 15 billion yen

Anti—masses President of Nigeria Bola Ahmed Tinubu has submitted a request to the Senate for authorization to borrow 21.5 billion dollars, EUR 2.1 billion and 15 billion yen. It also seeks a grant of 65 million euros.

Tinubu in a letter to the national assembly said: “In the light of the removal of the fuel subsidy and its impact on the national economy, approval is called for the borrowing plan, which amounts to USD 21,543,647,912, and EUR 2,193,856,324.54. And in Japanese Yen, 15 billion Yen and grant of 65 million, respectively.

“This initiative aims to generate employment, promote skill acquisition, foster entrepreneurship, reduce poverty, and enhance food security, as well as to improve the livelihoods of Nigerian. Majority of these projects and programs will be implemented across all 36 states and the Federal Capital Territory. 

“In light of the significant infrastructure deficit in the country and the power of financial resources needed to address this gap amid declining domestic demand, it has become essential to pursue prudent economic borrowing to close the financial shortfall.

“These funds will primarily be directed towards critical infrastructural projects, including railways, healthcare among others. Given the market nature of these needs and the importance of stabilizing the economy, it is crucial to seek the consideration and approval of the House of Representatives for the 2025-2026 External Borrowing Plan.

“This will enable the government to fulfill its obligations to the Nigerian people through timely disbursement and effective project implementation.”

Endless borrowing since 2015 till date have only compounded the woes of the country. If thorough investigation should be carried out, APC led government will be second to non in leadership corruption index since independence.

APC led government in Nigeria since 2015 till date has been a course through anti- people policies and programs that has further ruined the domestic economy as the country now known as the global capital of poverty in the faces of state enabled criminality of Bandits, Fulani herdsmen menace, kidnappers and ISWAP terrorists.

The hope of a free , fair and credible future elections is zero too as all opposition parties have been infiltrated and put in turbulence by the Tinubu led Federal government.

Senator Natasha Recall not met requirements of the Constitution, Says INEC

Senator Natasha Akpoti-Uduaghan
at a Ramadan rally with her constituents 

The Nigeria's electoral body has said the petition for the recall of the Senator representing the Kogi Central Senatorial District, Senator Natasha Akpoti-Uduaghan has not met the requirement of Section 69(a) of the Constitution of the Federal Republic of Nigeria 1999 (as amended). 

According to a press statement by the body, signed by its National Commissioner and Chairman, Information & Voter Education Committee, Sam Olumekun mni, the Commission held its regular weekly meeting today, Thursday 3rd April 2025. Among other issues, the meeting considered and approved the report of its physical count of the signatures/thumbprints forwarded with the petition for the recall of the Senator representing Kogi Central Senatorial District, in line with Clause 2(b) of the Regulations and Guidelines for Recall 2024.

 

The Commission had assured Nigerians that it would handle the matter with fairness to the parties involved and in line with the provisions of the law and our Regulations and Guidelines. First, we ensured that the petitioners complied with the requirements for the submission of the petition. Secondly, we notified the member sought to be recalled in writing, copied the presiding officer of the Senate and simultaneously published the notice on our website. Thirdly, we informed Nigerians that the next step would be to carefully ascertain the number of signatures/thumbprints to ensure that the petition complies with the requirement of the law. This exercise has now been completed.

 

For emphasis, a petition for the recall of a Senator must comply with the provision of Section 69(a) of the Constitution of the Federal Republic of Nigeria 1999 (as amended) which requires the signatures of more than one-half of the registered voters in the constituency. The total number of registered voters in the Kogi Central Senatorial District is 474,554. More than one-half of this figure (i.e. 50%+1) is 237,277+1 which is at least 237,278 voters.

 

Across the 902 Polling Units in 57 Registration Areas and five Local Government Areas that make up the Senatorial District, the Commission ascertained 208,132 signatures/thumbprints from the submission made by the petitioners. This translates to 43.86% of the registered voters which falls short of the constitutional requirement by 29,146 signatories.

 

Consequently, the petition has not met the requirement of Section 69(a) of the Constitution. Therefore, no further action shall be taken on the recall of the Senator.

 

In line with the provision of Clause 2(d) of the Regulations and Guidelines for Recall 2024, the Commission has issued a Public Notice to that effect which is also copied to the presiding officer of the Senate.

 

The Public Notice, along with a summary of the review of the signatures/thumbprints of the petitioners, which are disaggregated by Local Government Areas, are available on our website and social media platforms for public information. The statement concluded.

State of Emergency in Rivers: You cannot determine a two-thirds majority by a voice vote. - Peter Obi

The house of representatives has in a voice vote, approved the illegality of President Tinubu s proclamation of state of emergency in Rivers State where the elevated governor, his deputy and all the members of the state house of assembly were suspended.

H. E. Peter Obi said the National Assembly cannot determine a two-thirds majority by a voice vote.

There have been reports that his members of the National Assembly pocketed $25,000 each to ensure the passage of the state of emergency.

Obi who had earlier reached out to Labour Party members of the national assembly on the needs to avoid supporting the illegality of the Tinubu led APC presidency on state of emergency in Rivers State said the Constitution is clear that this cannot be done through a voice vote but by calling individuals to answer 'yes' or 'no.'

His words: "While still agonizing over the ongoing deterioration of democracy in our nation, especially with the situation in Rivers State, and trying to reach out to our National Assembly members not to support and sustain the unconstitutionality and arbitrariness, I just heard that they have added salt to injury by using a voice vote to pass the illegality ."

"The Constitution is clear that this cannot be done through a voice vote but by calling individuals to answer 'yes' or 'no.'"

"You cannot determine a two-thirds majority by a voice vote."

"While a two-thirds majority is crucial, it does not justify bypassing proper procedures and undermining the principles of transparency and accountability. "

"The use of a voice vote in such a significant decision not only disregards constitutional requirements but also erodes public trust in the democratic process as well as the transparency and integrity of the National Assembly . "

"Decisions of such magnitude must be made with integrity, following the letter and spirit of the law."

"It is disheartening that a decision as crucial as approving an emergency proclamation — one that could alter the course of the nation — has been  handled with such casual disregard for constitutional standards. "

'The 1999 Constitution of Nigeria (as amended) clearly requires that such a proclamation must be approved by at least two-thirds of all members of each House — the Senate and the House of Representatives. "

"A simple call of "Aye" or "Nay" cannot accurately measure this crucial threshold."

"When a supermajority is required, it demands a recorded vote — whether by division, roll call, or electronic means. This isn't just a technicality; it's a matter of law and legitimacy. "

"The Senate Standing Orders and House Rules were established to ensure that decisions of this magnitude are made transparently, with accountability. "

"Ignoring these procedures is not just an oversight; it is a betrayal of the democratic process."

"A voice vote for such a critical matter is not just insufficient; it's a dangerous precedent. If we can bend the rules so easily, what stops us from undermining other pillars of democracy? 

"Today, it's a voice vote on a state of emergency — tomorrow, it could be a voice vote on citizens' fundamental rights."

"It is painful to think that members of the National Assembly, who swore to uphold the Constitution, could participate in a process that sidesteps the very essence of due process. "

"We must ask ourselves: If the law no longer anchors our decisions, then what does?

"This is not just a flawed procedure; it is a warning signal. "

"We cannot afford to keep gambling with the soul of our democracy." Obi said.