Senator Adams Oshiomhole has assured Nigerians that the Senate will subject President Bola Tinubu’s latest external borrowing request to thorough scrutiny before making a decision on its approval.
Speaking during an appearance on Arise Television’s Morning Show on Friday, the Edo North lawmaker said the National Assembly has a responsibility to carefully examine the proposed loans and ensure they serve the country's interests.
Oshiomhole was reacting to the President's request seeking legislative approval for fresh external loans totalling $20.5 billion and €1.04 billion to finance key infrastructure and development projects across Nigeria.
According to the former Edo State governor, lawmakers will review the proposal in detail, including how previous loans were utilised and the specific objectives of the new borrowing plan.
“The Senate will scrutinise Tinubu's fresh loan request. We won't just approve it like that. We must look at it properly and ensure it is in the interest of Nigerians,” Oshiomhole said.
He rejected suggestions that the Senate would automatically endorse the request, stressing that the upper chamber remains committed to carrying out its constitutional oversight responsibilities.
Oshiomhole further expressed confidence in the leadership of Senate President Godswill Akpabio, maintaining that the National Assembly would not operate as a rubber stamp for the executive arm of government.
The lawmaker's remarks come amid growing concerns from some Nigerians over the country's rising debt profile and the Federal Government's plan to secure additional foreign loans.
President Tinubu had earlier transmitted the borrowing proposal to the National Assembly, arguing that the funds would support critical national projects and development programmes.
The Senate is expected to review the request in the coming weeks before reaching a decision on whether to grant approval.
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