Nigerians urge lawmakers to hold executive accountable for loans, 2025 capital budget

The Civic Alliance for Fiscal Transparency (CAFT) has called on members of the National Assembly to hold the executive accountable for the newly approved foreign loans and the delayed implementation of the 2025 capital budget — or resign from office.

In a statement issued on Saturday, CAFT President, Engr. Ayodele Olaposi, criticised the legislature for what he described as “approving loans with one hand and closing its eyes with the other.”

Olaposi said lawmakers must go beyond budget approvals to ensure that every borrowed dollar and every naira allocated to capital projects delivers tangible results for Nigerians.

He noted that despite the Tinubu administration’s fiscal reforms and improved oil revenues, citizens were yet to feel any real economic relief due to the slow execution of the 2025 budget.

“It is unacceptable that after celebrating revenue growth and approving multi-billion-dollar loans, the government still drags its feet on the 2025 capital budget,” Olaposi said.

“This delay hurts the economy and erodes public confidence.”

The group expressed concern that Nigeria’s public debt has surged to over ₦149 trillion as of mid-2025, with debt servicing consuming more than 60 percent of federal revenue.

CAFT warned that without strict legislative oversight, the country risked leaving future generations with debts unaccompanied by development.

“The National Assembly must not become a clearing house for unsustainable borrowing.

“Every loan approved must be tracked, audited, and tied to measurable impact,” the statement read.

The organisation urged lawmakers to ensure full disclosure of how new loans will be utilised, with priority given to infrastructure, job creation, and poverty reduction.

It also called for the publication of quarterly progress reports to strengthen public trust in government spending.

“True accountability is not about speeches or committee sittings—it’s about results,” CAFT stated.

“When Nigerians see functional schools, equipped hospitals, and motorable roads, then governance will have meaning.”

The group reaffirmed support for the government’s efforts to expand non-oil revenue and promote local industries but stressed that fiscal gains must translate into social progress.

“We urge lawmakers to demand performance and ensure that the 2025 budget fulfills its purpose — to rebuild confidence and deliver development for all Nigerians,” Olaposi added.