HURIWA Slams Tinubu’s Borrowing, Accuses N’Assembly of Backing ‘Fiscal Irresponsibility’

The Human Rights Writers Association of Nigeria has strongly criticised the borrowing pattern of the administration of Bola Ahmed Tinubu, accusing the National Assembly of Nigeria of enabling what it described as “economic ruin” through unchecked loan approvals.

In a statement issued on May 3, HURIWA said the continued approval of loans without transparency, accountability, or measurable impact reflects a dangerous trend of fiscal irresponsibility.

The group argued that borrowing without visible improvements in infrastructure, economic relief, or social protection amounts to “economic sabotage,” alleging that funds are being mismanaged or diverted for political patronage.

Concerns Over $2bn Power Sector Bailout

HURIWA raised alarm over the recent approval of over $2 billion (about ₦3.3 trillion) to settle debts in the power sector, questioning its transparency and impact.

According to the group, despite repeated financial interventions, electricity supply across the country remains unreliable, with businesses and households still grappling with erratic power.

It warned that without addressing structural challenges such as poor metering, weak transmission infrastructure, and non-cost-reflective tariffs, further financial bailouts could worsen the sector’s inefficiencies.

Rising Debt Profile

Citing data from the Debt Management Office, HURIWA said Nigeria’s total public debt has risen to ₦159.28 trillion as of December 2025, describing the figure as alarming and unsustainable.

The group also referenced warnings by the International Monetary Fund urging Nigeria to adopt prudent borrowing practices and strengthen debt management strategies.

It, however, accused the current administration of moving in the opposite direction by accumulating debt without clear repayment plans or economic returns.

Call for Accountability

HURIWA further criticised the National Assembly for allegedly failing in its constitutional duty to scrutinise executive borrowing, describing the legislature as a “rubber stamp.”

The group demanded answers on the utilisation of borrowed funds, timelines for project execution, and mechanisms for monitoring implementation.

Key Demands

Among its demands, HURIWA called for:

Full public disclosure of all loan agreements and utilisation plans

Independent audit of funds disbursed to the power sector since 2023

Suspension of further borrowing pending a comprehensive debt review

Legislative hearings to assess the effectiveness of past loans

Immediate structural reforms in the power sector

‘Nigeria Cannot Borrow Its Way Out’

The group warned that continued borrowing without accountability could jeopardise the country’s economic future, insisting that transparency and responsible leadership are critical to national development.

HURIWA reaffirmed its commitment to advocating for citizens’ rights and holding public officials accountable, stressing that it would continue to “speak truth to power” on issues of governance and economic management.