A presidential aspirant on the platform of the Young Progressives Party (YPP), Olajide Toriah Filani, has raised concerns over the Federal Government’s proposed $6 billion loan, calling for greater transparency and fiscal discipline.
In his Easter message to Christians across Nigeria, Filani congratulated the faithful on the completion of the Lenten season, describing Easter as a period of renewal, hope and deep national reflection. He prayed that the celebration would usher in peace, strength and restoration for families and the country at large.
However, the YPP aspirant used the occasion to question the timing and necessity of the proposed loan, warning that additional borrowing could worsen Nigeria’s already rising debt profile. He noted that with crude oil prices reportedly performing above budget benchmarks, the government should be experiencing improved revenue inflows rather than seeking new loans.
“A nation benefiting from increased oil earnings should not be sinking deeper into debt,” Filani said, adding that higher revenues ought to translate into economic relief for citizens instead of fresh borrowing.
He also challenged the common justifications for external loans, including deficit financing, infrastructure development, debt refinancing and economic stabilisation, insisting that Nigerians deserve clearer and more detailed explanations on how such funds are to be utilised.
According to him, the practice of borrowing to service existing debts is unsustainable and poses long-term risks. “Taking new loans to repay old ones mortgages the future of coming generations,” he warned.
Filani further stressed that infrastructure investments must reflect the genuine needs of the people rather than political considerations. He argued that claims of economic stabilisation remain questionable in the face of rising inflation, declining purchasing power and the high cost of living.
The aspirant also criticised what he described as weak legislative oversight and limited public discourse on major financial decisions, noting that accountability remains central to democratic governance.
Reaffirming his ambition ahead of the 2027 general elections, Filani said he is offering a vision anchored on transparency, accountability and sustainable development. Quoting Nelson Mandela, he added that a new generation of leaders must rise to reposition the country for genuine progress.
He urged Nigerians to remain informed, united and resolute as the nation prepares for the future, expressing hope that the Easter season would renew faith and confidence in Nigeria’s prospects.
