National Assembly Under Fire: Experts Warn Of Looming Economic Collapse Over ₦138tn Debt

National Assembly Under Fire: Experts Warn Of Looming Economic Collapse Over ₦138tn Debt

Experts have condemned the National Assembly for hastily approving President Bola Tinubu’s frequent loan requests, warning that unchecked borrowing could plunge the country into severe economic distress.……READ MORE 

Recent approvals include a $2.2 billion (₦1.767 trillion) loan, sanctioned within 48 hours of submission. This brings Nigeria’s debt to ₦138 trillion as of November 2024. Critics argue that lawmakers have abandoned their oversight role, instead becoming a “rubber stamp” for the executive arm of government.

Civil society leaders, legal experts, and economists stress the need for rigorous scrutiny of loan requests, ensuring funds are judiciously utilized and serve public interest. They call for accountability, transparency, and prioritization of citizens’ welfare over personal or political gains.

For More Information And News Update, Join Ireporteronline WhatsApp Channel With Link Below: https://whatsapp.com/channel/0029VaV4jB6DuMRgwqnJCF32 For advertisement inquiries only, kindly send a message to 09010649814 on WhatsApp.