In a move stirring widespread backlash, the Niger State House of Assembly has approved a ₦70 billion bond request by Governor Mohammed Umar Bago, paving the way for yet another round of borrowing under the guise of infrastructure development.
The Peoples Democratic Party (PDP) in the state has condemned the decision, branding it fiscal recklessness and a glaring disregard for public welfare.
Speaking on the development, PDP State Vice Chairman and Zonal Chairman for Niger North, Yahaya Abdullahi Ability, lashed out at the Bago administration for what he described as “borrowing without results.”
He pointed to the state’s poor budget implementation record and ballooning debt profile, questioning the rationale behind approving additional credit facilities.
“Rather than managing the state’s meagre resources with discipline and transparency, the government keeps plunging the state deeper into debt with no visible developmental impact,” Ability said.
The House’s Committee on Finance, led by Aliyu Sheshi Wushishi, defended the loan, stating it was part of a 10-year, ₦100 billion NCNI Private Bond Issuance plan, and assured that stakeholder consultations were held.
But PDP leaders aren’t convinced. Ability argued that what Niger State needs is “responsible governance, not reckless borrowing.”
He urged Governor Bago to redirect his focus toward prudent financial management, transparency, and meeting the immediate needs of the people, rather than burdening future generations with unsustainable debt.
As criticism mounts, analysts warn that the growing debt culture in Niger State may be setting a dangerous precedent, one where loans are approved faster than they are accounted for.
Credit: Daily Post except headline
