trackup-new.com
25 November, 2024
A potential showdown is looming in the House of Representatives over President Bola Tinubu’s $2.2m (N1.77tn) loan request. The loan is intended to fund the N9.7tn deficit in the 2024 budget.
The Deputy Spokesperson of the House, Philip Agbese, has expressed confidence that the House will approve the loan request, citing the government’s prudent management of resources and investment in critical infrastructure.
However, the minority caucus has warned that borrowing should be the last option, not the first resort. They demand more transparency and accountability in the loan’s usage and repayment plans.
Other lawmakers have expressed concerns about Nigeria’s growing debt profile, which currently stands at N87.38tn ($113.42bn). They emphasize the need for prudence and discipline in handling public funds.
The House is expected to debate the loan request this week, with the Senate having already approved it.
