The Presidential Candidate of the Young Progressives Party (YPP), Architect Dr Peter Agada, has requested the Federal Government to repair waste of funds within the nation and publish particulars of outdated initiatives earlier than in search of new exterior loans.
He mentioned contemporary borrowing with out blocking leakages and finishing present initiatives would solely worsen Nigeria’s debt burden with out tangible advantages to residents.
Recall that President Bola Tinubu had on Tuesday written to Senate President Godswill Akpabio, in search of National Assembly approval for a supplementary exterior borrowing plan of $20.52 billion and €1.045 billion for 2026-2027.
The proposed borrowing is meant to finance infrastructure initiatives in energy, transportation, well being, agriculture and water throughout the 36 states and the Federal Capital Territory.
It comes at a time when Nigeria’s complete public debt stands at N166.79 trillion as of June 2026, with debt service at N15.81 trillion and monetary deficit at N31.46 trillion, whereas capital finances efficiency stays beneath 40 per cent.
It may also be recalled that the Federal Government secured approval for $2.347 billion in exterior borrowing in October 2025, with little public disclosure on implementation.
Reacting in an announcement issued on Wednesday, Agada urged the National Assembly to demand an in depth compendium of beforehand funded initiatives, displaying particular areas by ward and state.
“Nigeria could generate over N13 trillion yearly without new loans through lean governance, cutting cost of governance by 40 per cent and collapsing 250 duplicating agencies into 40.” he mentioned
He added that Engineering, Procurement and Construction (EPC) direct contracting reforms would take away middlemen and save 35 per cent on capital initiatives.
“In architecture, you don’t borrow to build a new house when you have not roofed the old one. An architect does not add load to a collapsed pillar, he strengthens it first,” Agada mentioned.
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