Tinubu Govt Has Borrowed Up To ₦13 Trillion Without National Assembly Approval – Ndume

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, including the allegations of lopside appointments, are 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.

“Collectively, we are supposed to oversee the acts of Mr President and point out some of the irregularities.

“This is what we swore to do. It is not personal, because if you count five people in the north that have a personal relationship with President Bola Ahmed Tinubu, I (Ndume) am one of them. But that does not stop me from saying the truth? I have the obligation to do that in the interest of all Nigerians.

“As a Nigerian and lawmaker, I have the right to voice this out, but Tinubu’s attack dogs will attack me, not the message. It is not personal, as I said, especially now that everybody will stand before God Almighty and account for his/her own stewardship as leaders.

“It is unfortunate that after this interaction, these so-called ‘Tinubu Boys’ or people will start attacking Ndume, saying he is a very frustrated person.”