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“Nigeria’s Debt Hits ₦149 Trillion: Civic Group Warns NASS To Wake Up Or Step Down”.
According to Nivo News, the Civic Alliance for Fiscal Transparency (CAFT) has called on members of the National Assembly to either hold the executive accountable for the country’s rising debt profile and the delay in implementing the 2025 capital budget or resign from their positions.....KINDLY READ THE FULL STORY HERE▶
In a statement issued on Saturday, CAFT President, Ayodele Olaposi, criticised what he described as a pattern of “rubber-stamp approval” in the legislature, where foreign loans are endorsed without adequate oversight or follow-up. He argued that lawmakers owe Nigerians more than just passing budgets, insisting they must ensure that every borrowed dollar and allocated naira translates into real development.
Olaposi acknowledged that while President Bola Tinubu’s administration has recorded revenue gains through fiscal reforms and improved oil earnings, such progress remains invisible to ordinary citizens due to the sluggish rollout of the 2025 capital budget.
“It is unacceptable that after celebrating revenue growth and securing multi-billion-dollar loans, the government continues to delay the implementation of the 2025 capital projects,” Olaposi stated. “This delay not only undermines economic stability but also erodes public trust.”
CAFT expressed concern over Nigeria’s growing debt burden, which it noted had surpassed ₦149 trillion as of mid-2025, with over 60 percent of federal revenues now dedicated to debt servicing. The group warned that without effective legislative oversight, future generations would inherit debts unaccompanied by tangible development.
“The National Assembly must not become a clearing house for reckless borrowing,” the group cautioned. “Every loan approved must be tracked, audited, and tied to measurable results. Legislators must justify the trust reposed in them or step aside for those ready to do the job.”
CAFT also urged the federal legislature to compel full transparency regarding the utilisation of foreign loans, detailing how each fund would be spent and prioritising projects that promote infrastructure, job creation, and poverty reduction. The group further proposed the release of quarterly progress reports to boost public confidence in fiscal governance.
“Accountability is proven through visible results, not mere rhetoric. When roads are built, schools improved, and hospitals equipped, Nigerians will see that governance is working. Until then, every borrowed fund must remain under close scrutiny,” the statement read.
While commending the administration’s efforts toward non-oil revenue expansion and local industrialisation, CAFT emphasised that economic gains must translate into social progress.
“The government must not allow bureaucracy to derail its reform agenda,” the statement concluded. “We urge lawmakers to uphold their oversight duty and ensure that the 2025 budget restores confidence, drives growth, and delivers genuine development for Nigerians.”
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Tension In UK As Nigerians Push For INEC Chairman’s Removal Ahead Of 2027.
A group of Nigerians has staged a protest at the United Kingdom Parliament, calling for the removal of the Chairman of the Independent National Electoral Commission (INEC) ahead of the 2027 general elections.....KINDLY READ THE FULL STORY HERE▶
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“My Nightclubs Are The Least Of What I Do” — Sir Uyi Fires Back At Critics.
Sir Uyi has responded strongly to critics of his involvement in nightclub businesses, insisting that such ventures represent only a small part of his wider activities.....KINDLY READ THE FULL STORY HERE▶
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Shock In Benue As Police Nab Seven Over Abduction Of JAMB Candidates.
The Benue State Police Command has confirmed the arrest of seven suspected militia herdsmen in connection with the abduction of passengers travelling in an 18-seater Benue Links bus along the Makurdi–Otukpo road last Wednesday.....KINDLY READ THE FULL STORY HERE▶
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