Govt must explain to Nigerians why it’s taking loans – Nyameh

The Accord Party’s governorship candidate in Taraba State, Professor Jerome Nyameh, has called for greater transparency and accountability in government borrowing, stressing that loans should only be obtained for projects capable of generating revenue and improving the lives of citizens.

Speaking in Jalingo on Friday, Nyameh said governments have a responsibility to be transparent whenever they seek loans, noting that citizens deserve to know the reasons for borrowing, how the funds will be utilised, and the expected benefits to the state.

According to him, transparency and integrity must guide every stage of the borrowing process, from securing the loans to implementing the projects financed with the funds.

“The people should be informed about why a loan is needed, how it will be spent, and the impact it will have on their lives and on the projects for which it is obtained,” he said.

Nyameh argued that government borrowing should be tied to strategic, revenue-generating initiatives capable of stimulating economic growth, creating employment opportunities, and strengthening the state’s capacity to repay its debts without placing unnecessary financial burdens on future generations.

He cautioned against obtaining loans for projects with unclear objectives or limited economic value, describing such practices as detrimental to sustainable development and fiscal responsibility.

“Prudent financial management remains essential to building a stable economy and restoring public confidence in governance. Accountability in public spending would ensure that borrowed funds deliver measurable benefits to the people,” Nyameh said.