'Where's the project breakdown' – Rufai Oseni blasts Tinubu over fresh $20.5b, €1.04b loans request

Arise News anchor, Rufai Oseni, has criticised President Bola Tinubu, over his fresh request for National Assembly approval for massive external loans.

Speaking on Wednesday during Arise Television’s Morning Show, Rufai asked for a breakdown of the loan request.

DAILY POST recalls that President Tinubu, on Tuesday requested the National Assembly to approve $20.5 billion and €1.04 billion in external loans.

Rufai expressed shock that the President would request such a huge amount of money without telling Nigerians what the money is meant for.

According to him, there is no concrete project breakdown, no structural terms, no explanation on how the loans will be repaid, yet the Presidency wants approval.

“President Tinubu goes ahead and requests for National Assembly approval on $20.5B and €1.04B in external loans without providing a concrete project breakdown or structural terms,” he said.

Some Nigerians have argued that borrowing without a clear plan is what has plunged the country into more debt, while others said the National Assembly must demand full disclosure before approving the request.

The Presidency is yet to react to the comments as of the time of filing this report.