Fresh loan: 'Where has the money gone?' Umeh questions FG's previous borrowings
The Senator representing Anambra Central, Victor Umeh, has questioned President Bola Tinubu's latest request to the National Assembly seeking the approval to borrow additional funds. The lawmaker noted that the Senate has on several occasions approved such funds to be borrowed in the past, adding that on each occasion the lawmakers have been told that […] Fresh loan: 'Where has the money gone?'…
Senator Victor Umeh has raised questions about President Bola Tinubu's latest request for additional funds from the National Assembly. Umeh pointed out that the Senate has previously approved such borrowings, only to have the budgets remain unfunded. Tinubu sought approval for $20.5 billion and €1.04 billion in external loans to fund critical projects across Nigeria.
The request was read by the President of the Senate, Godswill Akpabio, during a plenary session. Umeh stated that they have approved multiple funds for borrowing in the past, and each time, they were told that the borrowing would be to fund the budget, which has remained unfunded. Umeh highlighted that three budgets are running concurrently, and the government is not fulfilling its obligations to contractors for capital projects.
He questioned where the borrowed funds have gone if the government cannot finance the budget, posing a question that lingers in everyone's mind.
Written by urgent.news from Daily Post Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
