The Peoples Democratic Party (PDP) in Niger State has condemned the recent approval of a ₦70 billion bond by the Niger State House of Assembly to finance infrastructure projects.
The party described the move as fiscally irresponsible and insensitive to the economic struggles of the citizens.
On Wednesday, Yahaya Abdullahi Ability, the PDP’s State Vice Chairman and Zonal Chairman for Niger North, expressed strong disapproval of the government’s decision.
He argued that the state’s growing debts and poor budget execution make further borrowing unjustifiable. According to Ability, “The government’s continuous reliance on loans has not yielded tangible development or improvement in the lives of the people.”
The bond issuance was requested by Governor Mohammed Umar Bago and approved after a review by the House Standing Committee on Finance, chaired by Aliyu Sheshi Wushishi.
The ₦70 billion forms part of a planned ₦100 billion NCNI Private Bond issuance over a 10-year period aimed at financing key infrastructure in the state.
Despite the approval, Ability questioned the necessity of additional borrowing, emphasising that Niger State should instead focus on prudent management of existing resources to address its infrastructure deficits.
He urged the governor to prioritize transparency, accountability, and responsible governance in managing state funds.
Ability further called on the government to shift its attention toward meeting the urgent needs of Niger State residents rather than increasing the state’s debt burden.
via: Information Nigeria
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