Politics
APC, PDP Bandy Words Over Buhari’s Fresh Loan Request
The ruling All Progressives Party (APC) and the opposition Peoples Democratic Party (PDP) have argued over President Muhammadu Buhari’s request for approval to borrow $4 billion and €710 million to fund the deficit in the 2021 budget.
Recall that the president made the request in a letter he addressed to the National Assembly on Tuesday.
The Peoples Democratic Party (PDP), in reaction to the development, cautioned the NASS against approving the request, saying it could set the country’s debt profile skyrocketing without a feasible repayment plan.
With the approval to borrow $8.3 billion and €490 million loans by its legislative body barely two months ago, Nigeria’s debt profile risks reaching over N40 trillion.
“More alarming is that the debts that APC is hanging on Nigerians are for nebulous projects whose scopes, utilities, locations and contractors are largely vague; a development that validates apprehensions of a huge swindle on our nation at the expense of innocent Nigerians, including generation yet unborn.
“Our party holds it as an act of wickedness that individuals who know that they will be leaving office in less than two years will be accumulating debts instead of seeking ways to reduce the liability they have brought upon our nation.
“The APC knows it will not be around after May 29, 2023. That is why it is pushing our nation into a deeper economic quagmire with foreign loans, which are largely diverted to the personal pockets of their corrupt leaders,” the opposition PDP said in a statement signed by its spokesperson, Kola Ologbondiyan, on Tuesday.
But responding to the PDP’s criticism, the All Progressives Congress (APC) on Wednesday, said the loans are for “the good of the country” and well-being of the citizenry.
The ruling party also accused the opposition party of looting foreign loans obtained during its 16 years rule rather than spending on infrastructure and economic growth as, according to it, Mr Buhari-led government is doing.
“It was in PDP’s era that loans to fund power generation, purchase arms and ammunition to fight a raging insurgency were misappropriated and diverted to fund PDP activities; and the borrowed money ultimately found its way to the pockets of cronies, friends and family members of administration officials. Nigeria is still servicing a $460 million loan taken from China to fund a phoney Abuja Closed-Circuit Television (CCTV) contract awarded in August 2010.
“Nigerians should also reflect and recall that the PDP had in its 16 years of misrule pushed the country into a dark ditch of insolvency, and a period in which most state governments could not pay workers salaries, not even the minimum wage, or settle contractors’ bills and cater for patients in hospitals, to name a few,” the APC interim National Secretary, John Akpanudoedehe, said.
Senator Makarfi’s resignation comes on the heels of the national convention that saw the emergence of the new Chairman of PDP, Dr Kabiru Tanimu Turaki (SAN).
In his letter of resignation, which was addressed to the PDP BoT Chairman, Senator Adolphus Wabara, and made available to journalists in Kaduna on Monday evening, the former governor said, “Chairman and Members of the Board of Trustees may recall that about two months ago I had resigned as Secretary of the Board and posted same on the Board’s WhatsApp platform.
“Mr Chairman, you may also recall that you personally urged me to stay on until after a convention that produced a Chairman.”
He added that the principal reason he initially tendered his resignation then “and now, was and is still my belief that the National Chairman of the Party and Secretary of the Board of Trustees should not come from the same geopolitical zone.
“Now that a chairman has emerged from the North West, where I come from, it’s necessary to give him full space to do the needful. Accordingly, I hereby formally resign as Secretary of the Board of Trustees of the Peoples Democratic Party with effect from today, November 17th, 2025.”
While commending the BoT Chairman for his support during his tenure as Secretary of the Board, he stressed, “I truly appreciate the very respectful relationship between us during my period as Secretary,” adding that, “I also appreciate all Board members for their support and the good relationship that prevailed during my period as Secretary.”
Meanwhile, Dr Turaki on Monday pledged to ensure that power returns to the Nigerian people, urging the judiciary to uphold the tenets of democracy.
Dr Turaki, while giving his acceptance speech after the swearing-in of new officers at the end of the Elective Convention of the PDP in Ibadan, assured that there will be “no more impunity, no more suppression of the will of Nigerians”.
The chairman appealed to the judiciary to uphold the principles of stare decision, abiding by the decisions of the Supreme Court, and not to “willingly or unwillingly put yourselves in a situation where, rightly or wrongly, it may be assumed, correctly or incorrectly, that you are part and parcel of the process to truncate Nigerian democracy.”
According to him, the new leadership of the party would be open to listening to the yearnings of members, with a view to aligning with their will, declaring that “No more monkey dey work, baboon dey chop,” adding that “if baboon wants to chop, baboon must be seated to work.”
He noted that the PDP has maintained its original name, motto and logo, unlike the other parties that started with it, making it a recognised brand anywhere in Nigeria.
Mr Agboke, in a statement on Monday, said that conducting party primaries in line with the law was important ahead of the 2026 governorship election.
INEC has fixed August 8, 2026, for the governorship election in Osun State.
Mr Adegoke appealed to all registered political parties in the state to strictly adhere to the provisions of the Electoral Act, 2022, the commission’s guidelines and regulations for the conduct of their primaries.
“The commission emphasises the need for the conduct of free, fair, and peaceful primary elections that reflect the will of the party members as a panacea for the reduction of pre-election litigations.
“We observed that primary elections have often been a source of pre-election litigation, which can be avoided if parties follow the laid-down procedures and guidelines.
“INEC, therefore, urges all political parties to ensure that their primaries are conducted in a transparent, democratic, and peaceful manner. All aspirants should be given equal opportunities to participate,” he said.
Mr Agboke stated that, in line with the guidelines released by INEC’s national headquarters, the political parties’ primaries for the 2026 governorship election in the state are scheduled to take place between November 24 and December 15.
He said INEC was prepared to provide necessary support and guidance to parties to ensure that their primaries are conducted in accordance with the law.
“We call on all stakeholders, including security agencies, to support the commission in its efforts to ensure peaceful and credible party primaries.
“INEC will continue to monitor the activities of political parties and take appropriate actions within the ambit of the law against any party that fails to comply with the electoral laws and regulations,” he said.
The Northern States Governors’ Forum has strongly condemned the attack on the Government Girls’ Comprehensive Senior Secondary School in Maga, Danko/Wasagu LGA, Kebbi.
The bandits’ attack led to the abduction of 25 female students as well as the reported killing of the vice principal of the school.
Reacting to the mass abduction on Monday, the chairman of the forum, Governor Inuwa Yahaya, described the kidnapping as tragic, senseless, and utterly unacceptable.
In a statement by his media aide on Monday, Gov. Yahaya stated that the continued targeting of schools posed a grave threat to the region’s stability and the nation’s educational future.
Gov. Yahaya, on behalf of the northern governors, commiserated with the government and people of Kebbi State, especially the families of the abducted students and those who lost their lives in the attack.
He assured Governor Nasir Idris of the forum’s solidarity and support during this difficult moment.
He said that schools must be sanctuaries of learning, not targets of violence, warning that continued assaults on educational institutions threatened to reverse gains made in improving school enrolment and curbing the out-of-school crisis in the region.
Mr Yahaya expressed deep concern over the trauma the abducted schoolgirls may be facing and called for an immediate and well-coordinated operation by security agencies to ensure their safe rescue and the arrest of the perpetrators.
Reaffirming the NSGF’s commitment to collaborating with the federal government and security institutions, Gov. Yahaya stated that the safety, education, and welfare of young Nigerians remain a top priority for the forum.
He urged communities to remain vigilant and cooperate with the security agencies in the collective efforts to rid the region of criminality.
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