SDP asks Tinubu to account for N158tn loans, raises concerns over 2027 spending

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President Tinubu

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By Henry Umoru

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ABUJA — The Social Democratic Party (SDP) has called on the administration of Bola Ahmed Tinubu to provide a detailed account of over ₦158 trillion in foreign loans allegedly secured within the last three years.

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The party also expressed concern that recently approved loans by the National Assembly could be misapplied or diverted for political purposes ahead of the 2027 general elections.

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Addressing a press conference in Abuja, the SDP National Chairman, Sadiq Abubakar Gombe, said there was little visible evidence to suggest that a significant portion of the borrowed funds had been invested in infrastructure development.

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He described the scale of borrowing as unprecedented and called for full transparency in the management of public debt and recovered funds.

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“The key questions remain: Where are the borrowed funds? What projects have they been used for, and how have they improved the lives of Nigerians?” he asked.

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The party further urged the Federal Government to publish details of all recovered funds, including the amounts, storage, and utilisation, in line with global best practices.

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The SDP’s position follows the recent approval by the National Assembly of an additional $6 billion external loan request submitted by the President.

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The party warned that Nigeria could not afford another cycle of opaque borrowing and unaccounted spending, stressing the need for accountability and fiscal discipline.

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On national security, Gombe criticised the government’s handling of insecurity, citing recent incidents of violence in parts of the country. He said the administration must take decisive steps to protect lives and property, in line with its constitutional responsibilities.

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The SDP also reiterated its readiness for the 2027 elections, stating that it remains open to all eligible aspirants seeking elective positions, including the presidency.

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Gombe assured that the party’s nomination process would be transparent, free, and credible, adding that more aspirants are welcome to participate.

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He dismissed claims that the SDP is aligned with the ruling All Progressives Congress (APC), describing such assertions as unfounded.

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Also speaking, the SDP National Publicity Secretary, Araba Rufus Aiyenigba, raised concerns over Nigeria’s rising debt profile, alleging that heavy borrowing has not translated into visible development.

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He warned that governance risks being overshadowed by political activities ahead of 2027, urging the government to prioritise economic stability, infrastructure, and security.

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In his remarks, the party’s Deputy National Chairman (South), Ugochukwu Uba, said the SDP is positioning itself as a credible alternative, promising policies anchored on transparency, accountability, and good governance.

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The party encouraged Nigerians to participate in its ongoing registration drive and contribute to shaping the country’s political future.

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