LP Urges Akpabio, Abass to Halt Tinubu’s Borrowing Requests
Labour Party (LP) has called on Senate President Godswill Akpabio and Speaker of the House of Representatives Tajudeen Abbas to intervene and stop President Bola Tinubu’s loan request.
The party’s Interim National Publicity Secretary, Tony Akeni, made the appeal in a statement issued in Abuja, citing concerns over Nigeria’s rising debt and fiscal instability.
Akeni warned that Nigeria’s debt situation had reached alarming levels, noting that public debt rose from N121.7 trillion in December 2024 to N149.39 trillion in the first three months of 2025, surpassing the 40% debt-to-GDP threshold set by fiscal laws.
“For Nigerians to appreciate Speaker Abbas’ sense of alarm, one must put in perspective the facts. Both the Debt Management Office, DMO, and CBN’s published data available to the public reveal that in the first 90 days of this year, 2025 alone, Nigeria’s public debts soared from N121.7billion in December 2024 to N149.39trillion.
“What is more frightening is that in the same three-month period, the debt-to-GDP ratio resulting from these debts, rose to 52%, which is far above the highest safe limit of 40% set by Nigeria’s own fiscal laws.”
According to the statement, President Tinubu’s request for fresh loans from the World Bank, amid soaring debt, inflation and grinding poverty, was proof that this administration was insensitive to the sufferings of Nigerians.
Titilope Adako is a talented and intrepid journalist, dedicated to shedding light on the untold stories of Osun State and Nigeria. Through incisive reporting, she tackles a broad spectrum of topics, from politics and social justice to culture and entertainment, with a commitment to accuracy, empathy, and inspiring positive change.
