Tinubu Has Not Borrowed Enough — Akpabio Defends FG’s Debt Profile, Says Senate Not Rubber Stamp
The President of the Senate, Godswill Akpabio, has dismissed concerns raised over the borrowing pattern of the administration of President Bola Tinubu, insisting that Nigeria’s current debt level remains within sustainable economic limits.
Akpabio was responding to recent comments credited to the Emir of Kano, Sanusi Lamido Sanusi, who had expressed concerns over what he described as rising government borrowing despite the removal of fuel subsidy.
Addressing the issue, the Senate President argued that contrary to claims of excessive borrowing, the federal government has not borrowed beyond what is necessary to support economic growth and national development priorities.
He maintained that Nigeria’s fiscal structure remains capable of servicing its debt obligations, noting that the country’s tax-to-GDP ratio still provides room for sustainable revenue mobilisation.
Akpabio further stressed that the National Assembly, under his leadership, would not approve loans without thorough scrutiny, adding that the Senate is “not a rubber stamp parliament.”
He explained that all borrowing requests are subjected to legislative oversight and due diligence to ensure alignment with national interest and fiscal responsibility.
The comments come amid ongoing public debate over Nigeria’s debt profile and the economic impact of recent reforms, including subsidy removal and revenue restructuring measures.
