In a rare and candid critique from within the ruling party, Senator Ali Ndume has voiced strong dissatisfaction with President Bola Ahmed Tinubu’s borrowing spree, stating that Nigeria’s debt burden is increasing with no visible developmental impact to justify it.
Ndume made the remarks during an interview on Arise TV’s “Prime Time” program, anchored by veteran journalist Charles Aniagolu, where he openly challenged the federal government’s economic direction and questioned the lack of results from heavy loans.
“I Am Not Against Borrowing, But Where’s the Impact?” – Ndume on Arise TV
The Borno South senator emphasized that while borrowing itself is not inherently wrong, the lack of transparency and poor results have left Nigerians worse off.
“I am not against borrowing,” Ndume told Charles Aniagolu. “But where are the projects? Where are the people benefiting? This is disheartening. You borrow and borrow, but there’s nothing to show for it.”
Tinubu’s Borrowing Record Sparks Internal Criticism
Since taking office in May 2023, President Tinubu’s administration has secured multiple foreign loans aimed at economic recovery, infrastructure, and social support programs. However, Ndume’s comments suggest even insiders are beginning to lose patience with the pace and visibility of progress.
Major Loan Acquisitions Under Tinubu:
| Loan Source | Amount (USD) | Intended Use |
|---|---|---|
| World Bank | $1.5 billion | Budget support and social safety nets |
| African Development Bank | $250 million | Road and energy infrastructure |
| Eurobond (Pending) | $1 billion | Debt servicing and capital projects |
Ethnic Favoritism in Appointments?
Senator Ndume didn’t stop at economic issues. He also criticized the pattern of appointments under Tinubu, suggesting they are heavily skewed in favor of the President’s ethnic group and political allies.
“Even his appointments… it’s just his kingsmen,” Ndume said during the live broadcast. “This is not how to run a country. Nigeria is diverse, and governance must reflect that.”
This remark taps into a growing sentiment that federal character and inclusivity are being overlooked in favor of political loyalty.
Market Concerns and Public Outrage
As Nigerians face inflation, unemployment, and foreign exchange instability, Ndume’s explosive comments have amplified public discontent. The economy has seen increased hardship with no clear indication of relief despite massive borrowing and promised reforms.
Conclusion: Ndume’s Message Strikes a Nerve
Senator Ndume’s appearance on Arise TV’s Prime Time is a wake-up call to both the executive arm of government and the Nigerian public. As someone from within the corridors of power, his concerns echo the voices of millions who are demanding accountability, development, and true representation.
Whether the Tinubu administration will heed these concerns remains to be seen, but one thing is clear — Nigerians are watching, and they are asking the same question: “Where is the money going?”
Watch: Explosive Interview With Charles Aniagolu | Arise Prime Time
