US EditionNigeria Facing Imminent Economic Catastrophe Over Mindless Borrowing, Youth Group Warns Tinubu
- The Youth Arise Movement warned on Wednesday in Abuja that Nigeria faces economic collapse due to the Federal Government's recent $21.5 billion external loan request.
- YAM issued the warning after President Bola Tinubu requested the loan to fund government bonds and pension arrears amid rising national debt exceeding ₦144 trillion and conflicting loan figures up to $24 billion.
- The group called for the National Assembly to decline approval of the loan request, demanded transparent audits of nearly $1 billion recovered funds, and recommended creating a Presidential Delivery Unit to monitor government income, expenditures, and projects.
- YAM Convener Comrade Ademola Babatunde criticized the government's persistent borrowing as reckless and warned that it threatens the nation's long-term wellbeing, while also pointing out the failure to improve critical infrastructure and social services.
- YAM’s warning suggests urgent reforms for fiscal management and accountability to break Nigeria’s debt spiral that threatens future generations and demands that lawmakers fulfill their constitutional duties.
14 Articles
14 Articles
Nigeria Facing Imminent Economic Catastrophe Over Mindless Borrowing, Youth Group Warns Tinubu
With Nigeria's debt projected to hit ₦180 trillion, the Youth Arise Movement (YAM) has raised the alarm over continued borrowing by the Federal Government, warning that the country is on the brink of economic collapse. The group has called on President Bola Ahmed Tinubu to suspend further external loan requests and urged the National Assembly to reject any such proposals.
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Atiku: Tinubu’s Addiction to Loans Mortgaging Nigeria’s Future
Former Vice President and presidential candidate of Peoples Democratic Party (PDP) in the 2023 general election, Atiku Abubukar, yesterday accused the President Bola Tinubu government of mortgaging Nigeria’s future by taking too many loans. Atiku said the decision to take further loans was not only reckless but also a dangerous move that threatened the future of citizens and generations yet unborn. National President of Nigerian Chamber of Comm…
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