President Bola Tinubu requested approval from the National Assembly for twenty-four billion dollars in fresh foreign loans, alongside a two billion dollar local bond and a seven hundred and fifty-eight billion naira pension bond. If approved, Nigeria's national debt could exceed one hundred and eighty-two trillion naira by 2026. President Bola Tinubu explained the funds would support critical infrastructure, healthcare, and agriculture. However, financial experts and opposition leaders sharply criticized the plan. Johnson Chukwu of Cowry Assets Management Limited and Muda Yusuf of the Centre for the Promotion of Private Enterprise warned that excessive debt servicing costs would overwhelm capital spending and called for private partnerships. Financial analyst Marcel Okeke, alongside civic advocates Auwal Musa Rafsanjani, Debo Adeniran, Emmanuel Onwubiko, and Vahyala Kwaga, condemned the plan over poor transparency and risks of hitting debt thresholds. Politically, the Peoples Democratic Party, represented by Debo Ologunagba, alongside former Vice President Atiku Abubakar and his adviser Paul Ibe, slammed the request as irresponsible and called for its rejection. In contrast, economics professor Segun Ajibola supported the pension bond portion, noting that clearing outstanding liabilities for senior citizens is long overdue due to rising inflation.
Index to Nigerian Newspapers
