Senator Victor Umeh, who represents Anambra Central, has criticised President Bola Tinubu’s proposal to take on additional borrowing, arguing that Nigerians are already enduring severe economic pressure under the current administration.
Speaking on Channels Television’s Politics Today on Tuesday, Umeh said the wider population was struggling with worsening living costs and a difficult economic environment. He said the strain was no longer limited to low-income households, claiming that even wealthier Nigerians were now feeling the impact.
“The country is borrowing too much. People are in distress and are suffering. In Nigeria today, even the wealthy are crying. The nation’s resources have been badly managed,” Umeh said.
His comments followed Tinubu’s request for National Assembly approval to secure new loans. The senator questioned the rationale for further borrowing after the removal of the petrol subsidy, a policy expected to reduce fiscal pressures, and amid higher government revenue.
Rather than expanding public debt, Umeh urged the president to reduce the cost of running government, saying tighter control of official spending should take priority over additional borrowing.
