Kwankwasiyya warns on rising debt, faults NASS oversight

The Kwankwasiyya Movement has raised concerns implicit Nigeria’s increasing debt, accusing the Federal Government of borrowing recklessly and the National Assembly of failing to decently cheque its actions.

In a connection issued connected April 1, the group’s spokesperson, Dr Habibu Sale Mohammed, said the continued support of loans without due scrutiny could harm the country’s economical future.

“It is profoundly concerning that Nigeria is being plunged into further indebtedness without transparent justification, wide consultation, oregon a wide model for equitable utilisation,” Mohammed said.

He noted that the signifier of borrowing, particularly aft caller indebtedness deals, raises superior concerns astir fiscal subject and semipermanent sustainability.

“This inclination raises superior concerns astir accountability and the aboriginal of our economy. Borrowing without clarity oregon restraint risks mortgaging the aboriginal of generations yet unborn,” helium added.

The radical besides expressed interest astir however the borrowed funds are being shared ...