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…Says lacks of oversight by NASS pushing Nigeria into endless debts
By Abubakar Yunusa, Abuja and Femi Oyelola, Kaduna
Civil society organisations (CSOs) have faulted the Federal Government’s plan to secure fresh borrowing, warning that it could deepen hardship among citizens already grappling with economic strain.
They said government actions must reflect empathy, discipline and accountability rather than increased revenue extraction.
Their reactions followed the request by Bola Ahmed Tinubu to the Senate seeking approval for a $516.3m foreign syndicated loan for the Sokoto–Badagry highway project.
Speaking with Peoples Daily, the Executive Director,
Resource Centre for Human Rights and Civic Education (CHRICED), Ibrahim Zikirullahi, said the justification for subsidy removal was now being recycled to defend new borrowing.
He described the move as economically illogical and politically troubling, particularly in the aftermath of subsidy removal.
Zikirullahi said the development raised serious concerns about policy coherence and fiscal transparency.
“What makes this distressing is the national mood,” he added. “Millions are facing hardship, insecurity persists, and corruption allegations continue without consequence.”
“At a time when citizens are struggling to survive, government actions should reflect empathy, discipline and accountability—not increased revenue extraction.”
He further argued that despite increased revenue sources through subsidy removal, taxation and borrowing, poverty continued to deepen.
“Infrastructure is decaying, insecurity is worsening, and public trust is eroding,” he said.
The organisation called for a shift in governance priorities towards transparency, accountability and human welfare.
In a separate interview, the Executive Director,
Grassroots Centre for Rights and Civic Orientation(GCRCO),
Armsfree Ajanaku, described the loan request as a reflection of weak accountability in public finance management.
He said it formed part of a recurring pattern.
“The opaqueness in loan collection and lack of oversight by the National Assembly are pushing Nigeria into a cycle of endless debt without value,” he said.
Ajanaku questioned the absence of visible projects to justify previous borrowings.
“Where are the savings from subsidy removal that were meant to stabilise the economy?,” he asked.
He warned that the country risked sinking deeper into an opaque debt cycle with little benefit to citizens.
According to him, the latest request symbolised persistent fiscal indiscipline.
Also opposing the Federal Government’s ongoing reliance on loans, another group accused the Tinubu administration of ignoring widespread public disapproval and worsening Nigeria’s debt crisis.
According to the Executive Director of Hope for Communities and Children Initiatives (H4CC), Hajia Hadiza Umar, the recent borrowing plans do not reflect the economic hardships faced by millions of Nigerians.
She stated that debt servicing already consumes a large part of the national revenue, leaving limited funds for essential sectors such as health, education, and infrastructure.
“Citizens have been clear: no more loans for consumption, no more mortgaging our future. Yet the Federal Government keeps returning to lenders while accountability for past loans remains poor,” she said.
She also highlighted rising inflation, job losses, and the removal of the fuel subsidy as reasons why Nigerians cannot bear more debt.
The activist pointed to data from the Debt Management Office showing Nigeria’s total public debt continues to increase, with external and domestic commitments crossing concerning thresholds. They warned that without transparent use of loans and a clear repayment plan, the country risks falling into a full-blown debt crisis.
According to her, several town hall meetings and online surveys conducted in the past quarter revealed that over 70% of respondents oppose new federal borrowing. “Government cannot claim to run an open government while disregarding the voices of the people it serves,” said Barrister Tunde Alabi, another coalition member.
She called for an immediate halt to all new loan requests until a comprehensive audit of existing debts is published.
Hajia Hadiza also urged the National Assembly to strengthen oversight and reject borrowing proposals that are not tied to self-liquidating projects with measurable impacts.
She emphasized the need to mobilize nationwide if the Federal Government proceeds with additional loans without public approval, warning that “continued borrowing without citizens’ approval is taxation without representation.”
Some Nigerians also expressed concern over the current borrowing plan and the penchant for sovereign loans by the Tinubu administration.
Chris Okafor, a resident of FCT, Abuja said he was disappointed with the administration, alleging that borrowing had become routine.
“We were told that the suffering has been removed. Where are the proceeds of those subsidies?” he asked.
Similarly, another FCT resident, Issac Michael said the timing of the loan request was inappropriate given the current economic realities.
In Nasarawa State, a Karu resident, Eznne Suwaah, said while borrowing could be beneficial, its utilisation remained questionable.
“All the money we’ve been borrowing—what have they used it for? Mostly selfish interests,” she said.
She urged the government to explore internal revenue generation mechanisms rather than resort to frequent borrowing.
“If the funds are not available, then suspend the project for now instead of borrowing repeatedly,” she added.
Another respondent, Chimyer Igwe, criticised what he described as poor project execution.
“They start projects without completing them before initiating new ones. That is not right,” he said.
Barrister Kabir Adams also warned that borrowing for capital projects might not translate into meaningful development.
“All I know is that funds may end up serving personal needs rather than public interest,” he said.
