Arise News anchor Rufai Oseni has criticised President Bola Tinubu’s administration over its continued borrowing, demanding a clear explanation of how the proposed loans will benefit Nigerians and how the government intends to repay them.
Oseni’s criticism comes amid renewed debate over the Federal Government’s request for legislative approval to secure fresh external loans worth approximately $20.52 billion and €1.045 billion.
Speaking during Arise Television’s Morning Show, the broadcaster questioned the rationale behind taking on additional debt without providing Nigerians with a sufficiently detailed assessment of the expected benefits, repayment obligations and economic consequences.
He argued that borrowing should not be treated as a routine government response to financial pressures, insisting that authorities must demonstrate that the expected gains justify the cost.
‘You Cannot Borrow Without Cost-Benefit Analysis’
Oseni maintained that the government should conduct and disclose a comprehensive cost-benefit analysis before committing the country to further borrowing.
He questioned what ordinary Nigerians would gain from the proposed loans and called for greater transparency about the projects to be financed.
According to him, the government must explain whether the borrowing will generate enough economic value to justify the repayment burden or leave future generations with additional financial pressure.
His concerns centre on the need for accountability, particularly at a time when many households continue to struggle with the cost of living.
The broadcaster’s position is that Nigerians deserve more than general assurances about development: they should be able to identify the projects, understand their costs and see how the investments are expected to improve their lives.
Tinubu Government Defends Its Borrowing Plan
The Federal Government, however, has defended the proposed borrowing, describing it as a long-term investment programme intended to expand infrastructure and strengthen the economy.
President Tinubu has argued that Nigeria needs substantial investment in roads, railways, electricity and ports to support economic growth and advance the ambition of building a $1 trillion economy by 2030.
The government has identified major projects, including the Lagos-Calabar Coastal Highway, Sokoto-Badagry Superhighway and railway infrastructure, among the proposed areas for investment.
Finance Minister Taiwo Oyedele has also maintained that the borrowing plan is designed to finance productive assets rather than routine consumption, with some facilities expected to come from development partners on relatively favourable terms.
