Tinubu’s Borrowing Lacks Transparency, Says SDP

The Social Democratic Party (SDP) has criticised President Bola Tinubu-led administration’s borrowing pattern, describing it as “opaque” and lacking transparency.

Speaking to journalists in Abuja yesterday, SDP’s national chairman, Prof. Sadiq Gombe, expressed concern over the government’s multi-trillion naira loan request, noting that previous borrowings haven’t yielded completed projects, especially in electoral and critical infrastructure.

As of early April 2026, Nigeria’s public debt rose under President Bola Tinubu’s administration, reaching a total of approximately N152.4 trillion by June 30, 2025.

The Senate recently approved an additional $6 billion (approx. N9 trillion) in external loans, intended for budget support and infrastructure.

“The federal government’s multi-trillion loans have not resulted in completed projects, particularly in electoral and critical infrastructure, and it is a call for concern, which is why we at the SDP are questioning the borrowing,” he said.

Gombe, however dismissed suggestions linking the party with the ruling APC, stating that the SDP is a vigilant opposition, speaking against poor governance, harmful policies, and lack of transparency.

He highlighted the party’s rapid growth nationwide, with new members joining from all regions, including former governors, lawmakers, and high-profile figures.

“The SDP has also engaged with socio-political groups like Afenifere, who expressed readiness to align with the party for 2027,” Gombe said.

Corroborating Gombe’s position on government borrowings, the SDP National Publicity Secretary, Arabba Rufus Aiyenigba, said the party fears the huge loans may be deployed for political purposes ahead of 2027.

Aiyenigba noted that the Buhari administration accumulated ₦83 trillion in borrowing over eight years, while the current administration has borrowed ₦158 trillion with no clear evidence of development.

“What is this government doing with all the money it has received? Why is it difficult to fund our security architecture?” Aiyenigba asked, expressing concern over Nigeria’s rising debt profile without commensurate infrastructure.

“The SDP demands transparency in loan administration and recovered looted funds, urging the government to publish details of recoveries and projects executed,” Aiyenigba said.

For his part, Deputy National Chairman South, Senator Ugochukwu Uba, said the SDP intends to implement policies reflecting transparency, accountability, and a distinct political vision.

Uba urged Nigerians to examine the party’s manifesto, promising a clear break from past practices. “The SDP is prepared for the 2027 elections; the party is the credible alternative and true opposition force.”

“Nigerians are ready for change, and the SDP is resolute, organised, and determined to provide a credible alternative. The party’s nationwide registration drive is ongoing, and Nigerians are encouraged to join and shape the country’s future.

“The SDP is committed to transparency, accountability, and good governance, offering a viable alternative to Nigerians in 2027,” he said.