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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.
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