Senator Ali Ndume, a prominent Nigerian lawmaker representing Borno South, has expressed grave concerns over the ongoing management of Nigeria's loans under the administration of President Bola Tinubu. In a statement issued today, Senator Ndume accused the current government of a lack of transparency, accountability, and effective management regarding the nation's staggering N13 trillion debt.
Senator Ndume, who is known for his outspoken stance on national fiscal policies, raised alarm about the growing burden of the country’s debt, noting that despite the massive loans acquired over the years, the government has failed to show significant development or improvement in key sectors such as infrastructure, healthcare, and education.
“The Nigerian government has borrowed over N13 trillion, yet it is unclear where this money has been spent or how it is being managed. We are not seeing the corresponding results in the lives of ordinary Nigerians,” Senator Ndume remarked. “This administration has continued to rely on borrowing without clear plans for repayment or sustainable economic growth. The lack of transparency is not only concerning but undermines public trust in the leadership.”
Ndume also pointed to a series of mismanagement concerns, questioning the allocation of funds borrowed by the government. He emphasized that loans should be utilized to stimulate long-term economic growth, yet, in his view, the current administration has failed to demonstrate accountability in the deployment of such substantial funds.
The senator further raised concerns over the burden that the nation’s growing debt would place on future generations. "If the loans are not effectively managed and paid back in the right way, it could leave a massive debt burden for our children and grandchildren, stifling the potential for future economic prosperity," he said.
In light of these concerns, Senator Ndume called for a comprehensive audit of the government’s loan management practices, with an emphasis on ensuring that borrowed funds are used efficiently to meet the country’s development goals. He also called on the government to be more transparent in its financial dealings and to engage Nigerians in discussions about the long-term implications of continued borrowing.