By: Daure David
In a shocking revelation, Senator Ali Ndume, a prominent member of the National Assembly, has accused President Bola Tinubu of borrowing $9.45 billion for what he termed “spurious projects” without the required approval from the National Assembly. The allegation was made during a recent television interview, stirring up a political storm as the controversy surrounding the administration’s fiscal policies intensifies.
Senator Ndume, a member of the ruling All Progressives Congress (APC), raised serious concerns about the purported borrowing, claiming that it was done in violation of Nigeria’s constitution, which mandates legislative oversight over federal borrowing. “The Tinubu administration has engaged in borrowing billions of dollars for projects that have not been approved or debated in the National Assembly,” Ndume alleged. “This raises significant concerns about transparency, accountability, and the direction of our national economy.”
The $9.45 billion borrowing was reportedly directed towards several infrastructural projects across the country, but the specific details of these projects remain unclear. Senator Ndume expressed frustration over the lack of clarity and public accountability surrounding the funds, urging the National Assembly to immediately investigate the matter.
Tinubu Administration Under Scrutiny
This development comes at a time of heightened scrutiny of President Tinubu’s leadership, particularly after his administration declared a state of emergency in Rivers State, a move that has sparked intense debate. The declaration was made following violent clashes between rival political factions in the state, but critics argue that it represents an overreach of executive power and an attempt to suppress opposition voices.
While the declaration of a state of emergency in Rivers has been justified by the administration as necessary to restore order, it has fueled fears that the APC-led government is consolidating power in ways that may undermine democratic principles and checks and balances.
Opposition Leaders React
Opposition parties have been quick to seize on Senator Ndume’s statements, accusing the government of financial mismanagement and authoritarian tendencies. “The $9.45 billion borrowing is just the latest in a series of reckless decisions by this administration,” said a spokesperson for the People’s Democratic Party (PDP). “The Tinubu government is clearly operating with no regard for transparency, accountability, or the rule of law.”
As the political temperature rises, analysts are warning that the combination of unapproved borrowings and the state of emergency could lead to greater instability in the country’s political and economic landscape.
Government Response Pending
As of press time, the government has not issued an official statement regarding Senator Ndume’s allegations. However, sources close to the presidency indicate that the administration is preparing a response, likely aimed at reassuring the public and the National Assembly about the legality and transparency of its financial dealings.
Senator Ndume’s accusations, coupled with the ongoing state of emergency in Rivers State, are sure to dominate political discourse in the coming days. With both public and legislative scrutiny mounting, President Tinubu’s administration will need to provide clarity on these contentious issues to avoid further escalation.
Further Investigations Expected
Political analysts predict that calls for further investigations into the alleged borrowing and the state of emergency will intensify in the days ahead. The National Assembly, which has been relatively passive on these issues so far, may soon be under pressure to take more active steps in holding the government accountable.
As this story continues to unfold, Nigerians will be watching closely to see how the administration handles the growing controversy over its financial decisions and the widening concerns over its governance approach.
