By Abdullahi Mukhtar Algasgaini
Senator Abdul Ningi (PDP, Bauchi Central) has taken a firm stand against President Bola Tinubu’s $21 billion foreign loan request, refusing to endorse the deal despite its approval by the Senate.
The outspoken lawmaker, a known advocate for fiscal responsibility, criticized the lack of transparency in the loan agreement, demanding full disclosure of repayment terms and project allocations before any further borrowing.
“How can we approve such a massive loan without clear terms? This is fiscal recklessness,” Ningi declared during a press briefing.
“Nigerians deserve to know exactly how these funds will be used and how we intend to repay them.”
The rejection comes amid rising concerns over Nigeria’s ballooning debt profile, which has surpassed N121 trillion. Analysts warn that unchecked borrowing could plunge the nation deeper into economic instability.
The Presidency has yet to respond, but sources indicate Tinubu may seek alternative approval routes if Senate support wavers.
Opposition figures and civil society groups have rallied behind Ningi’s demand for accountability.