By Abdulmumin Giwa
Kano
The Kwankwasiyya Movement has warned of what it described as the growing danger of Nigeria’s rising debt profile, accusing the federal government of reckless borrowing and the National Assembly of failing in its constitutional oversight role.
In a statement issued, Thursday, the Movement’s spokesperson, Dr. Habibu Sale Mohammed, said the continued approval of borrowing requests without adequate scrutiny poses a serious threat to the country’s economic stability.
“It is deeply concerning that Nigeria is being plunged into further debt without transparent justification, broad consultation, or a clear framework for equitable utilisation,” Mohammed said.
He noted that the pattern of borrowing, coming shortly after recent London debt arrangements, raises critical questions about fiscal discipline and long-term sustainability.
“This trend raises serious concerns about accountability and the future of our economy. Borrowing without clarity or restraint risks mortgaging the future of generations yet unborn,” he stated.
The movement also expressed concern over what it described as an imbalance in how borrowed funds are being allocated and deployed across the country.
“Even more troubling is the perception that these resources are being skewed in favour of a particular part of the country. Such imbalance undermines national unity and deepens inequality in an already fragile federation,” Mohammed added.
He criticised the National Assembly for what he called an apparent alignment with the executive arm of government, rather than acting as an independent check on power.
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