Ndume tackles Tinubu over massive borrowings, lists ‘spurious’ items
By Ishaya Ibrahim
The senator representing Borno South, Ali Ndume, has accused the government of President Bola Tinubu of embarking on borrowing spree and using the monies for things no one can see.
Ndume, a member of the ruling All Progressives Congress (APC), claimed during an Arise Television interview on Monday with Charles Aniagolu that billions of dollars have so far been borrowed by the government which are tied to things that can’t be measured.
Ndume said: “Let me first say that I’m not against borrowing. Even the greatest countries in the world – America, Japan, China are big borrowers. But they borrow for physical, tangible and accountable projects that they spread and pay over time. things that are accountable and spread to be paid over time.
“In June 2023, $500 million was borrowed for women programme to scale up what they call NPWPS. Can you see that? Can Nigerians see it? Where are the women?
“On June 23rd, the same day, $800 million was borrowed to cushion the impact of high petrol price after removal of fuel subsidy. How? Where?
“On September 23rd, 2023 under the same government, $800 million was borrowed for adolescent girls initiative for learning and empowerment .
“On December 23rd, 2023 $750 million was borrowed for renewable energy scale up.
“On June 24th, 2024, $1.5 billion was borrowed to support Nigeria’s economic reform and stabilisation to enable transformation.”
The interviewer, Charles Aniagolu interrupted with a laughter. He then said: “That one sounds spurious, I have to be very honest.”
Ndume continued: “On June 24th, $750 million was borrowed for immediate financial and technical support for efforts for Nigeria to stabilize the economy and to scale up support to the poor and those most economically at risk.”
The interviewer interjected again, saying: “They (government) will argue that they have been making payments through transfers.”
Ndume responded: “Whenever you are doing something, if it is true, somebody will come out to say thank you.”
Ndume was asked if the Senate approved the borrowings. He said no.
According to Ndume, a blanket approval given for medium term expenditure framework is not the same as line items approval for the borrowings.
He said the government ought to present each of those line items for the National Assembly’s approval. He said it was during the process questions would be asked on the terms of the borrowing and what they would be used for.
