The Social Democratic Party on Thursday raised concerns over the Federal Government’s $6b external borrowing request that was recently approved by the National Assembly, warning that Nigeria’s rising debt profile is not matched by visible development across critical sectors.
The party’s National Publicity Secretary, Rufus Aiyenigba, disclosed this at a press conference in Abuja, expressing fears that the growing debt burden could worsen the country’s fiscal outlook if not properly managed.
He said, “Nigeria’s debt profile is rising recklessly without any commensurate infrastructure to show for it. We in the SDP fear that the huge loans recently approved by the National Assembly may be deployed for political purposes ahead of the 2027 elections.
“We hope to be proven wrong, but governance has already taken the back seat, and Nigeria is now in full campaign mode. Everything revolves around 2027.”
The opposition party further criticised the borrowing pattern of the current administration, describing
