N’Assembly under fire as Nigeria’s debt hits N138tn

The National Assembly has been slammed over the speedy approval of loan requests presented by President Bola Tinubu. Experts warned that the continuous plunge of the country into debt without scrutiny could put the country into serious trouble. Both the House of Representatives and the Senate gave expeditious approval for the $2.2bn (N1.767tn) loan request barely 48 hours after President Tinubu made the request. The approval followed the presentation of a report by the Chairman of the Senate Committee on Local and Foreign Debts, Aliyu Wamakko (APC, Sokoto North), during plenary. Tinubu explained that the loan was integral to his administration’s fiscal strategy for the coming year, in a letter read during Tuesday’s Senate and House of Representatives plenaries - The 'administration’s fiscal strategy' but not physical as the undevourable-greedily savings!