The Tanimu Turaki-led faction of the Peoples Democratic Party (PDP) has challenged the Federal Government to explain how its borrowing has benefited Nigerians, particularly in tackling insecurity, unemployment and infrastructure deficits.
The party’s Interim National Working Committee (INWC) expressed concern over Nigeria’s rising debt under President Bola Tinubu’s All Progressives Congress (APC)-led administration.
According to the Debt Management Office (DMO), Nigeria’s total public debt stood at about N159.35 trillion as of March 31, 2026.
In a document obtained by Nigerian Tribune, the PDP questioned the government’s continued reliance on borrowing despite the country’s weak revenue base.
The party said borrowing was not inherently wrong when used to finance infrastructure, economic growth and projects capable of generating benefits for future generations. However, it said Nigerians deserved to know how much was borrowed, the cost of the loans, what the funds were used for and the measurable benefits.
The PDP also expressed concern over rising debt-servicing obligations, citing President Tinubu’s statement that Nigeria would spend about $11.6 billion on debt servicing in 2026, compared with $5.15 billion in 2025.
It noted that N15.8 trillion was allocated for debt servicing in the 2026 budget, arguing that such funds could otherwise be deployed to roads, schools, hospitals, security and job creation.
The opposition faction further questioned plans for additional foreign borrowing, warning against a situation where the government repeatedly borrows to repay existing debts.
“It is not enough for government officials to announce that borrowed funds will finance infrastructure. Nigerians deserve to know precisely which projects are being financed, how much they cost, when they will be completed and what economic returns they are expected to generate,” the party said.
The PDP urged the Federal Government and National Assembly to provide Nigerians with details on the purpose, cost and measurable benefits of major loans, insisting that citizens deserved evidence rather than assurances.
The Federal Government has continued to defend its borrowing, saying the funds are being used to support economic reforms, cushion hardship and finance long-term development, including major infrastructure projects and social intervention programmes.
