Civil Society Organisations (CSOs) in Nigeria and experts have opposed President Bola Ahmed Tinubu’s plans to borrow an additional N1.767 trillion.
The CSOs have questioned the Tinubu-led government’s continuous borrowing even as the president has written to the National Assembly, seeking approval to borrow the said amount.
Tinubu is seeking approval for a N1.767 trillion ($2.209 billion) new external borrowing plan in the 2024 Budget (Appropriation Act).
Tinubu’s request was contained in a letter entitled “Request for a Resolution of the National Assembly for the Implementation of the New External Borrowing of N1.767 trillion (About $2.209 billion) in the 2024 Appropriation Act” and addressed separately to the Senate President, Godswill Akpabio and the Speaker of the House, Rt Hon Abbas Tajudeen.
The President said the borrowing was to part-finance the 2024 budget deficit of N9.179 trillion.
According to Tinubu, the 2024 Appropriation Act approved N7.828 trillion in new…
Source: Leadership Newspaper
