Borno South Senator, Ali Ndume, has raised serious concerns over the Tinubu administration’s growing appetite for foreign loans, accusing the government of bypassing the National Assembly in its borrowing spree.
Appearing on Arise News Prime Time, Ndume alleged that the Tinubu government has borrowed up to ₦13 trillion ($9.45 billion) without legislative approval, describing many of the loans as unnecessary and lacking transparency.
“I’m not against borrowing,” Ndume clarified. “The United States, China, and Japan borrow—but they do so for clear, tangible, and accountable projects. My concern is what this government is borrowing for.”
He cited several questionable loan decisions, including:
- $500 million in June 2023 for a women’s program (NPMWPS),
- $800 million the same month to cushion fuel subsidy removal,
- $700 million in September 2023 for adolescent girl initiatives,
- $750 million in December 2023 for renewable energy projects,
- $1.5 billion in June 2024 for an economic stabilization act, and
- $750 million for technical support and poverty alleviation.
When asked whether the National Assembly approved these loans, Ndume responded, “Not to my knowledge.”
The Senator emphasized that his criticism is not political or personal, noting that he maintains a long-standing personal relationship with President Tinubu. However, he stated that his loyalty lies with the Nigerian people.
“As lawmakers, our constitutional duty is to oversee the Executive. Speaking out on irregularities is not an attack—it’s accountability,” Ndume said. “Unfortunately, instead of addressing the issues I raise, I’m attacked personally by so-called ‘Tinubu Boys.’ This is not about me—it’s about the country.”
Despite growing backlash, Ndume vowed to continue speaking the truth, highlighting the need for transparency and responsibility in governance.
