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$516m loan request: Tinubu’s borrowing bonanza mortgaging Nigeria’s future
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The African Democratic Congress (ADC) Legislators’ Forum has strongly condemned the latest move by President Bola Ahmed Tinubu to secure Senate approval for an additional external loan of $516,333,070, ostensibly for the Sokoto–Badagry Super Highway project.
This was contained in a statement issued and signed by the regional leaders of the Forum: Hon. Uko Ndukwe Nkole ,PhDChairmanADC -National Legislators’ Forum African Democratic Congress (ADC)
Hon Nnenna Ukeje-SEHon Sergius Ogun-SSHon Ajagbe H -SWHon Zakari Mohammed -NCHon Koko Shehu -NWHon Maigari Bello M-NE stating that:
“This request is not only alarming but emblematic of an administration that has made reckless borrowing its default economic policy, with little regard for sustainability, accountability, or the wellbeing of future generations.
“While no responsible opposition undermines the importance of infrastructure development, we must ask: at what cost, and under what conditions? This government has failed to convincingly demonstrate that its endless appetite for loans is guided by a coherent, transparent, and economically viable repayment strategy.
“Instead, Nigerians are witnessing a troubling pattern; one where debt accumulation is prioritized over prudent fiscal management, innovation, and domestic resource mobilization.
“Nigeria is already weighed down by a crushing debt burden, with debt servicing swallowing a staggering proportion of national revenue. Yet, rather than confronting this reality with discipline and reform, the Tinubu administration continues to plunge the country deeper into what can only be described as a looming debt catastrophe. Each new loan tightens the noose around the nation’s economic sovereignty, leaving future generations to pay for today’s lack of foresight.
“Even more disturbing is the timing of this request. As the nation inches closer to a major general election cycle, Nigerians are right to question the motives behind this borrowing spree.
” Is this truly about development, or is it another attempt to create avenues for political patronage and electoral advantage? History has taught us to be wary of last-minute, large-scale financial commitments made under the guise of national interest.
“The ADC Legislators’ Forum insists that the National Assembly must not act as a rubber stamp or Pro group of President Bola Ahmed Tinubu in this matter.
“The Senate, in particular, must rise to its constitutional responsibility by demanding full disclosure of the project’s financial details, procurement processes, cost-benefit analysis, and a credible repayment plan.
“Anything short of this would amount to a betrayal of public trust.
“Furthermore, we call on the administration to redirect its focus toward policies that can genuinely strengthen Nigeria’s economy; policies that promote productivity, industrial growth, job creation, and the plugging of revenue leakages.
“Borrowing should never be a substitute for leadership, creativity, and accountability.
“We must clearly state that governance is not a free ride without consequences. Those who make decisions today that endanger the economic future of millions of Nigerians must understand that a day of reckoning will inevitably come. The Nigerian people will demand answers, accountability, and justice for policies that have deepened hardship and mortgaged the nation’s destiny.
“Nigeria stands at a critical crossroads. We can either choose the path of responsibility, discipline, and sustainable growth, or continue down this perilous road of debt dependency and economic vulnerability. The Tinubu administration must decide where it stands; but Nigerians are watching, and history will not be kind to those who fail this nation.
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Police nab content creator over alleged rape of girl who committed suicide in Asaba
The Delta State Police Command has confirmed the arrest of a 44-year-old popular content creator simply identified as Odogwu Asaba.
The suspect was nabbed for allegedly raping a 21-year-old girl (name withheld).
The girl was said to have committed suicide after the incident.
It was said that the deceased was lured into Asaba by the suspect under the pretence of wanting to help her.
Police Public Relations Officer, SP Bright Edafe, confirmed the arrest on Wednesday.
It was learnt that the suspect was arrested on Tuesday at his residence in Asaba, following a petition by a human right activist, Comrade Israel Joe.
The suspect is currently in police custody and has allegedly confessed to the crime.
Warri based human rights activist, Comrade Israel Joe, commended the Delta State Police Command for the arrest, just as he insisted that justice must be seen to have been served in the matter.
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Senator Abba Moro moves motion demands heavy deployment of security to troubled communities in Otukpo
The senator representing Benue South Senatorial District and Senate Minority Leader, Comrade Abba Moro, on Wednesday moved a motion on the renewed attacks on Benue South communities in the last few days.
Akpachi-Ugboju, Otukpo-Nobi and Ondo Ugboju communities of Otukpo Local Government Area were attacked by armed bandits on Friday, Sunday and Tuesday respectively resulting in the death of 20 persons, displacement of several persons and destruction of properties worth millions of naira.
In the motion titled, “The urgent needto stop the gruesome murder of inhabitants of Akpachi-IUgboju Otukpo-Nobi inhabitants and fresh attacks on Ondo Ugboju in Otukpo LGA of Benue State by suspected bandits”, Senator Moro lamented sustained attacks on defenceless constituents and called on government at all levels to secure the lives and properties of Nigerians, which is the primary responsibility of every government.
The motion reads;
“The Senate:
“Notes with utter dismay and heavy heart the horrific and unprovoked attacks on the peaceful, agrarian Communities of Akpachi-Ugboju, Otukpo-Nobi and Ondo Ugboju communities of Otukpo Local Government Area, Benue State, by suspected Armed Bandits between Friday, Sunday of last week and Tuesday this week;
“The primary responsibility of any government, as enshrined in Section 14(2)(b) of the 1999 Constitution of the Federal Republic of Nigeria (as amended), is the security and welfare of its citizens;
“Aware that the weekend assaults resulted in the tragic and gruesome murder of innocent, defenseless citizens, with a confirmed death toll of two (2) lives lost in Akpachi-Ugboju and sixteen (16) lives lost in Otukpo-Nobi, bringing the total number of fatalities in these two incidents to eighteen (18);
“Disturbed that aside from the lives lost, numerous members of these communities sustained varying degrees of life-threatening injuries and are currently admitted in various hospitals struggling for their lives, while properties and farmlands have been destroyed, forcing survivors to flee their ancestral homes;
“Alarmed by the sudden, coordinated, and fresh attack launched on Ondo Ugboju, July 14, 2026, which has thrown the entire local government area into a state of panic, widespread displacement, and severe humanitarian crisis with a confirmed death cases of two (2) lives lost in Ondo-Ugboju, Otukpo Local Government Area of Benue State;
“Concerned that the relentless and audacious nature of these attacks suggest a deliberate attempt to decimate these communities, and if urgent security interventions are not immediately deployed, the situation will degenerate into a complete breakdown of law and order, alongside a looming food crisis as farmers are forced to abandon their farmlands out of fear for their lives.
“Accordingly resolved to (PRAYERS):
“1. Observe a minute of silence in honor of the twenty (20) innocent citizens who were gruesomely murdered in Akpachi-Ugboju and Otukpo-Nobi, and others who may have lost their lives in the fresh attack on Ondo Ugboju.
“2. Condemn in the strongest possible terms the unprovoked killings and destruction of properties by suspected bandits in Ugboju and Otukpo Districts.
“3. Urge the Inspector General of Police (IGP), the Chief of Army Staff (COAS), and other relevant security agencies to immediately deploy a heavy security presence to Akpachi-Ugboju, Otukpo-Nobi, Ondo Ugboju, and surrounding communities to restore normalcy, protect lives, and prevent further attacks.
“4. Mandate the Inspector General of Police to conduct a thorough investigation into the attacks, track down the perpetrators, and ensure they are brought to justice to serve as a deterrent to others.
“5. Urge the National Emergency Management Agency (NEMA) and the Federal Ministry of Humanitarian Affairs and Poverty Alleviation to urgently mobilize and supply relief materials (including food, medical supplies, and shelter) to the displaced persons and the injured currently receiving treatment in various hospitals.
“6. Mandate the Senate Committees on Police Affairs, Defense, and National Security and Intelligence to interface with the heads of security agencies to evaluate their operational strategies in Benue South and ensure compliance with these resolutions.
“I so move.”
In his response, the President of the Senate, Senator Godswill Akpabio, GCON, sympathized with Senator Moro and the people of Benue South over the attacks. He said Nigerians deserved the right to sleep in their houses with their eyes closed and go about their lawful activities without fear.
He expressed optimism that the resolutions of the senate would be implemented to forestall future occurrence in the affected communities and indeed the entire country.
A minute silence was observed in honour of all those who died in the attacks.
News
Tinubu’s Govt Makes Fresh Appointment
The Federal Government has inaugurated a Ministerial Advisory Committee made up of economists, public finance experts and private sector leaders to strengthen economic policymaking and support the implementation of ongoing fiscal reforms.
Members of the committee include the Managing Director of Sterling Bank, Abubakar Suleiman; the Chief Executive Officer of Economic Associates, Dr Ayo Teriba; the President of the Capital Market Academics of Nigeria, Prof. Uche Uwaleke; and the Director-General of the Lagos Chamber of Commerce and Industry, Chinyere Almona, among others.
Speaking during the inauguration in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, described the committee as a strategic partnership between the public and private sectors aimed at closing the gap between policy formulation and implementation.
He said the committee would provide independent, evidence-based advice to support government decisions and help ensure that ongoing economic reforms improve the lives of Nigerians.
According to Oyedele, the Tinubu administration has introduced major reforms, including the removal of fuel subsidy, the unification of the foreign exchange market and the implementation of tax reforms to improve fiscal sustainability.
He said the government’s priority is to ensure these reforms lead to job creation, lower inflation, improved business confidence and better living standards.
“The committee will serve as a bridge between policy design and implementation by providing practical, evidence-based recommendations that strengthen government decisions and anticipate emerging economic risks,” Oyedele said.
The minister explained that the committee would not exercise executive powers or replace any existing government institution but would provide objective analysis and practical policy recommendations.
He urged members to assess how government policies affect businesses and households and recommend adjustments where necessary.
According to him, the committee will focus on economic policy, public financial management, economic coordination and strategies to ensure reforms produce meaningful national results.
Oyedele also restated the Federal Government’s goal of achieving seven per cent annual economic growth and building a $1 trillion economy by 2030.
He praised the members for agreeing to serve without pay, describing their decision as an act of patriotism. He assured them that their recommendations would help shape ministerial decisions and government policies.
The minister also encouraged the committee to remain objective, challenge existing assumptions and base its recommendations on credible evidence rather than political considerations.
He urged members to engage with businesses, manufacturers and citizens so that government policies reflect the realities across the country.
Earlier, the Permanent Secretary of the Federal Ministry of Finance, Raymond Omachi, described the committee as a strategic platform for evidence-based economic policymaking.
Omachi said the advisory body consists of economists, public finance specialists, governance professionals, development experts and private sector representatives who will provide advice on fiscal reforms, government efficiency, stakeholder engagement and economic coordination.
He added that the committee would support efforts to strengthen fiscal sustainability, improve public confidence and advance Nigeria’s economic transformation agenda.
Omachi congratulated the members on their appointment and thanked them for offering their expertise in service to the country.
Speaking on behalf of the committee, its chairman, Abubakar Suleiman, assured that members would focus on practical and workable recommendations.
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