The ₦70 billion bond approved by the Niger State House of Assembly has sparked outrage from the Peoples Democratic Party, PDP, which says the move reeks of poor judgment and misplaced priorities.
Blasting the decision, the PDP labelled it “a clear example of fiscal recklessness and insensitivity to the plight of citizens.”
Speaking out, the PDP’s State Vice Chairman and Zonal Chairman for Niger North, Yahaya Abdullahi Ability, didn’t hold back. He described the move as “a clear example of the government’s disregard for the welfare of the people.”
Ability questioned the logic behind the fresh borrowing spree, especially when the state’s financial performance remains unimpressive. “Despite the state’s dismal budget execution and huge debts, the government continues to borrow without tangible developmental outcomes,” he said.
The Assembly had greenlit Governor Mohammed Umar Bago’s request for the ₦70 billion bond, citing infrastructure needs. Chairman of the House Standing Committee on Finance, Aliyu Sheshi Wushishi, claimed that his team had “done a thorough review and interface with stakeholders” before endorsing the bond as part of a broader ₦100 billion NCNI Private Bond Issuance plan set to run over ten years.
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Still, Ability isn’t convinced. He argued that “the state’s infrastructure deficits require prudent management of existing resources rather than additional loans.”
He demanded that Governor Bago shift focus toward “responsible governance, accountability, and transparency in the management of state funds.”
His message to the government was direct: meet the urgent needs of the people instead of “plunging the state into further debt.”