By MBACHU GODWIN, Abuja
Social Democratic Party, SDP, has criticized the Federal government over the acquisition of 158 trillion, describing it as unhealthy for the country’s economy.
The party raised concern over the Federal government continued quest in securing several loans with no infrastructural development to show for it.
In a press conference in Abuja by the party’s acting National Chairman, Alhaji Umar Gombe, the party called for transparency in the administration of all loans and recovered looted funds.
He said “So we ask: What is this government doing with all the money it has received?
From an economic standpoint, the borrowing pattern of this administration is alarming. The Buhari administration reportedly accumulated ₦83 trillion in borrowing over eight years. Yet in just three years, the current administration has borrowed ₦158 trillion, with no clear evidence of development to justify it.
Why is it difficult to fund our security architecture?
Why are our hospitals in such poor shape that even for basic ailments, leaders run abroad?
Why do those accused of corruption seek permission to travel overseas for medical treatment?
“These questions have become necessary after 11 combined years of APC governance. The truth is simple: This administration lacks the capacity to deliver sustainable economic transformation. Nigeria’s debt profile is rising recklessly without any commensurate infrastructure to show for it.
“We in the SDP fear that the huge loans recently approved by the National Assembly may be deployed for political purposes ahead of the 2027 elections. We hope to be proven wrong, but governance has already taken the back seat, and Nigeria is now in full campaign mode. Everything revolves around 2027.
Let it be clear:
“The SDP therefore calls for transparency in the administration of all loans and recovered looted funds. There is genuine fear that these funds have been re-looted. Government must publish details of recoveries, how much was retrieved, where the funds are kept, and what projects they have been used for.
The big questions remain:
Where are the trillions borrowed?
Where are the billions recovered?
Where are the projects?
How has the welfare of Nigerians improved?
These are not political questions. These are questions of national survival”
Gombe noted that the party has opened it’s doors to Nigerians to participate in the next general election, adding that more prominent politicians are going the party ahead of the 2027 election.
“As we move towards 2027, we are even stronger. Credible leaders across the federation are joining the SDP as their vehicle for national transformation.
The SDP is fully prepared for the 2027 elections. Our nationwide registration drive has brought massive numbers into the party. Whatever comes—whether from INEC or any system—the SDP is ready. We are resolute, organized, and determined to provide a credible alternative”
He denied claims that the party is aligning with the ruling All Progressive Congress, APC , as it has always criticized the policies of the ruling party.
END
