BORNO South Senator, Ali Ndume, has accused the government of President Bola Tinubu of taking unnecessary loans from international financial institutions.
Senator Ndume also lamented that many of the loans are without the approval of the National Assembly.
Speaking last night on Arise News Prime Time, the Borno South lawmaker alleged that President Tinubu has abowwored up to ₦13 trillion ($9.45 billion) without legislative approval.
Ndume, who clarified that he wasn’t entirely against government borrowing, explained, however, that many instances of the Tinubu government borrowings have been for spurious projects and not for capital or verifiable projects as many other nations do.
He said, “Let me say that I am not against borrowing, America, Japan, China and other big countries do borrow.
They borrow for fiscal, tangible and accountable projects, which they pay back over time. But my worry is what they borrow for.
“For example, in June 2023, they borrowed $500 million for a woman programme called NPMWPS. In the same June 23, 2023, another $800 million was borrowed to cushion the effects of the increase in the price of petroleum products.
“Again on September 23, 2023, $700 million was borrowed for adolescent girl initiatives. Again, in December 2023, $750 million was borrowed for renewable energy scale up.
“On June 24, 2024, $1.5 billion was borrowed to support Nigeria for economic stabilisation act for the economy. Then another $750 million was borrowed for technical support to stabilise Nigeria’s economy and scale up support for the poor.”
When asked whether the loans were with the approval of the National Assembly, Ndume said, “Not to my knowledge.”
Naija News reports Ndume also insisted that his vocal standpoint against some activities of the current government is not personal or about politics.
He submitted that he has a constitutional duty to speak for the masses and to tell the truth to the government.
The lawnaker decried the attacks against him from the presidency, but insisted that he would continue to speak for the people.
The Senator stated, “Just like you said, people look at me as somebody that is critical of the government, but I have the right to do that because that is why I am elected as a legislator at the National Assembly, in the first place.
