Senator Ali Ndume, representing Borno South in the Senate, has strongly criticized the Bola Tinubu-led government for its handling of borrowed funds, particularly the over ₦13 trillion in loans taken during the current administration. Ndume, a member of the All Progressives Congress (APC), voiced his concerns during an interview with newsmen, where he questioned the purpose of these loans and the lack of transparency in their management.
According to Ndume, much of the borrowed money has not been allocated to tangible infrastructure projects, which he believes is the primary purpose for taking loans. Instead, he raised alarms over the use of funds for what he described as “intangible” programs. “Let me first of all say this, I am not against borrowing. Even the greatest countries in the world—America, Japan, China—all are big borrowers. But they borrow for physical, tangible, accountable projects,” Ndume stated, emphasizing that Nigeria’s borrowing should be for long-term, impactful initiatives.
He highlighted several loans taken under the administration, questioning the effectiveness of the programs they were intended to fund. In June 2023, a $500 million loan was taken for women’s empowerment programs, but Ndume asked, “Can we see that? Can Nigerians see it? Where are the women?” He also pointed out that on the same day, an $800 million loan was borrowed to mitigate the effects of the fuel subsidy removal. “How? Where?” he quipped, casting doubt on the implementation of these measures.
Additionally, Ndume criticized the borrowing for the Adolescent Girls Initiative for Learning and Empowerment in September 2023, as well as the $750 million loan for a renewable energy scale-up project in December 2023. He suggested that these were not directly tied to the development of the country’s infrastructure, which he believes is critical for Nigeria’s growth.
