By Abdulmumin Giwa
Kano
The Kwankwasiyya Motion has warned of what it described because the rising hazard of Nigeria’s rising debt profile, accusing the federal authorities of reckless borrowing and the Nationwide Meeting of failing in its constitutional oversight position.
In an announcement issued, Thursday, the Motion’s spokesperson, Dr. Habibu Sale Mohammed, stated the continued approval of borrowing requests with out enough scrutiny poses a severe threat to the nation’s {economic} stability.
“It’s deeply regarding that Nigeria is being plunged into additional debt with out clear justification, broad session, or a transparent framework for equitable utilisation,” Mohammed stated.
He famous that the sample of borrowing, coming shortly after current London debt preparations, raises vital questions on fiscal self-discipline and long-term sustainability.
“This development raises severe considerations about accountability and the way forward for our economic system. Borrowing with out readability or restraint dangers mortgaging the way forward for generations but unborn,” he acknowledged.
The motion additionally expressed concern over what it described as an imbalance in how borrowed funds are being allotted and deployed throughout the nation.
“Much more troubling is the notion that these sources are being skewed in favour of a selected a part of the nation. Such imbalance undermines nationwide unity and deepens inequality in an already fragile federation,” Mohammed added.
He criticised the Nationwide Meeting for what he known as an obvious alignment with the chief arm of presidency, fairly than appearing as an impartial examine on energy.