SDP raises alarm over Tinubu’s $6bn loan approval
Bola Tinubu’s recent $6 billion external loan request has drawn criticism from the Social Democratic Party (SDP). The party, through its spokesperson Rufus Aiyenigba, expressed concerns about Nigeria’s increasing debt and the lack of visible development. The SDP questioned the impact of previous loans and accused the government of prioritising politics over governance. Calls were made for greater transparency and accountability in the management of borrowed funds.
Key takeaways
- The SDP criticised the Federal Government’s $6 billion loan, recently approved by the National Assembly, citing Nigeria’s rising debt without matching infrastructure.
- Rufus Aiyenigba warned that the loans could be used for political purposes ahead of the 2027 elections.
- The party highlighted that the current administration has borrowed ₦158tn in three years, compared to ₦83tn over eight years under the previous administration, with little evidence of development.
- The SDP demanded full disclosure on all loans and recovered public funds, urging adherence to global standards of transparency.
- Prof. Abubakar Gombe clarified that the party’s presidential ticket remains open to all eligible Nigerians, dismissing rumours of a preferred aspirant.
