Speaker Abbas denies condemning Nigeria’s borrowing, calls for stronger oversight

The Speaker of the House of Representatives, Abbas Tajudeen, has dismissed reports suggesting that helium condemned authorities borrowing, insisting alternatively that his remarks were misrepresented.

Speaking astatine the 11th Annual Conference and General Assembly of the West Africa Association of Public Accounts Committees connected Monday, Tajudeen raised concerns implicit Nigeria’s rising indebtedness profile, which helium described arsenic “a structural situation that demands urgent parliamentary attraction and coordinated reform.”

“As astatine the archetypal 4th of 2025, Nigeria’s full nationalist indebtedness stood astatine N149.39 trillion (about US$97 billion). Even much concerning is the debt-to-GDP ratio, which present stands astatine astir 52 per cent, good supra the statutory ceiling of 40 per cent acceptable by our ain laws,” the Speaker noted.

However, successful a connection by his Special Adviser connected New Media, Jowosimi Enitan, the Speaker clarified that helium ne'er condemned borrowing outright, but alternatively emphasized the request for liable indebtedness management.

“For the record, Speaker Abbas Tajudeen, PhD, GCON, ne'er condemned borrowing. Public debt, if managed prudently, tin beryllium a instrumentality for maturation and prosperity,” Enitan said.

He explained that the Speaker’s connection was focused connected oversight, transparency, and accountability, ensuring that each naira borrowed delivers tangible worth to Nigerians successful the signifier of infrastructure, healthcare, education, and innovation.

Enitan further highlighted President Bola Ahmed Tinubu’s efforts to trim reliance connected borrowing done a robust non-oil gross drive. According to him, Nigeria has, for the archetypal clip successful decades, met its 2025 gross people up of docket without depending connected outer loans.

“The Speaker’s telephone was not against borrowing,” Enitan stressed, “but for stronger oversight truthful that indebtedness translates into existent development. Oversight of nationalist indebtedness is simply a law work and a motivation work of parliament. This is astir safeguarding Nigeria’s fiscal future, not playing to the assemblage of mischief-makers.”

The station Speaker Abbas denies condemning Nigeria’s borrowing, calls for stronger oversight appeared archetypal connected Vanguard News.