Pro-Kwankwaso group accuses FG of reckless borrowing, faults NASS oversight

The Kwankwasiyya Movement has raised fresh concerns over Nigeria’s rising debt profile, accusing the Federal Government of reckless borrowing and the National Assembly of failing to properly scrutinise new loan requests.

In a statement issued Tuesday, the movement’s spokesperson, Habibu Sale Mohammed, warned that the country’s growing dependence on debt poses a significant risk to long-term economic stability.

Mohammed said the continued approval of borrowing requests without rigorous legislative scrutiny suggests a breakdown of the National Assembly’s constitutional oversight responsibility.

“It is deeply concerning that Nigeria is being plunged into further debt without transparent justification, broad consultation, or a clear framework for equitable utilisation,” he said.

According to him, the latest borrowing plans, coming shortly after recent debt arrangements concluded in London, raise serious questions about fiscal discipline and sustainability.

He cautioned that borrowing without clear accountability or defined development outcomes could place a heavy burden on future generations.

“This trend raises serious concerns about accountability and the future of our economy. Borrowing without clarity or restraint risks mortgaging the future of generations yet unborn,” Mohammed added.

Beyond the debt itself, the movement also expressed concern about what it described as an imbalance in the allocation of borrowed funds across different parts of the country.

Mohammed warned that perceptions of regional disparity in the deployment of public resources could worsen inequality and strain national cohesion.

“Even more troubling is the perception that these resources are being skewed in favour of a particular part of the country. Such imbalance undermines national unity and deepens inequality in an already fragile federation,” he said.

The group further criticised the National Assembly for allegedly aligning too closely with the executive arm of government instead of acting as an independent check on power.

“The legislature is expected to safeguard the interests of Nigerians, but what we are witnessing is a pattern of uncritical approvals with little debate, resistance, or accountability,” he stated.

Mohammed argued that weakening opposition voices in the legislature risks concentrating excessive authority in the executive branch and undermining democratic governance.

“When critical decisions such as massive borrowing requests are passed without rigorous scrutiny, it undermines the very essence of representative democracy,” he said.

The Kwankwasiyya Movement warned that weakening institutional checks and balances could have far-reaching consequences for Nigeria’s political stability and national unity.

It called on civil society organisations, opposition parties and citizens to demand greater transparency and accountability in the management of public finances.

“We urge all well-meaning Nigerians to rise to their constitutional responsibility of holding government accountable and resisting any attempt to weaken democratic institutions,” Mohammed said.

He also urged the federal government to review its fiscal strategy and prioritise responsible economic management.

“The government must immediately halt indiscriminate borrowing, ensure fair distribution of resources, and restore the independence and integrity of our democratic institutions,” he added.