by A heated debate is expected in the House of Representatives as lawmakers consider President Bola Tinubu’s request for a $2.2 billion (₦1.77 trillion) loan to address the 2024 budget deficit of ₦9.7 trillion. While the Senate has approved the request, the House will deliberate on it this week.
Deputy House Spokesman Philip Agbese affirmed the Green Chamber’s readiness to approve the loan, stating it will be used for critical infrastructure projects. He added that proper procedures and oversight will be followed to ensure accountability.
However, opposition lawmakers, including Minority Caucus Leader Kingsley Chinda, cautioned against unnecessary borrowing, urging the government to explore alternative revenue sources. Labour Party representative Afam Oghene voiced concerns about Nigeria’s rising debt profile, now at ₦87.38 trillion, emphasizing the need for transparency in fund utilization.
The debate highlights differing views on balancing fiscal sustainability with investment in infrastructure development.
