Stephen Ukandu, Umuahia
The Ohanaeze Youth Council (OYC) has launched a scathing attack on President Bola Ahmed Tinubu, describing his administration as “reckless and irresponsible” following the Senate’s approval of a fresh $6 billion loan request.
In a statement issued by its National President, Igboayaka O. Igboayaka, the group said the latest borrowing underscores what it called the Federal Government’s “lack of clear economic direction” and growing dependence on debt.
The OYC argued that despite claims of savings from the removal of fuel subsidy, the government has continued what it described as “unchecked and imprudent borrowing.”
According to the group, the Tinubu administration has shown little commitment to tackling poverty or rebuilding the economy, accusing it instead of prioritising revenue generation through multiple taxation policies.
Citing debt figures, Igboayaka said Nigeria’s public debt rose to about N152.4 trillion as of June 2025, with projections suggesting it could climb to approximately N183 trillion following additional external borrowings.
He warned that rising debt servicing obligations—estimated at N15.9 trillion in 2026—are already crowding out critical capital projects, with dire implications for economic growth and development.
The group also took aim at the leadership of the National Assembly, accusing Senate President Godswill Akpabio of failing in his oversight responsibilities and enabling what it described as fiscal excesses by the executive.
“The current fiscal trajectory reflects a pattern of governance driven by borrowing and taxation, with little regard for sustainability,” Igboayaka said.
He further alleged that the policy thrust of the administration’s “Renewed Hope Agenda” is heavily skewed towards increasing taxes and accumulating debt, rather than stimulating production and investment.
The OYC called on Nigerians to hold political leaders accountable, urging voters to use the ballot in the 2027 general elections to demand responsible and transparent governance.
As of press time, neither the Presidency nor the Senate had issued an official response to the allegations.
If you want, I can make it punchier for headlines or align it to a specific house style (e.g., Vanguard, Punch).
