YPP Presidential Aspirant, Filani Urges Transparency As Nigeria Plans Fresh $6bn Loan Amid Rising Debt Concerns
LAGOS – A presidential aspirant of the Young Progressives Party (YPP), Olajide Toriah Filani, has called for greater transparency and fiscal discipline as the Federal Government considers securing a fresh $6 billion loan.
In his Easter message to Christians nationwide, Filani congratulated Nigerians on completing the Lenten season, describing Easter as a time for renewal, hope, and reflection on the country’s direction.
“As we approach the joyous celebration of Easter, may the resurrection of Christ bring renewed strength, abiding peace, and divine restoration to our families and our dear nation,” he said.
However, he raised concerns over the proposed borrowing, warning that additional loans could deepen Nigeria’s debt burden—especially at a time when crude oil prices are reportedly above budget benchmarks.
“A nation benefiting from improved oil earnings should not be sinking deeper into debt,” Filani stated, adding that increased revenues should translate into economic relief rather than fresh borrowing.
He questioned common justifications for new loans, such as deficit financing, infrastructure development, debt refinancing, and economic stabilisation, arguing that Nigerians deserve clearer explanations on how public funds are managed.
“Nigerians deserve clear answers on how oil revenues are being utilised and why improved earnings have not improved living conditions,” he said.
Filani cautioned against borrowing to service existing debts, describing it as unsustainable and a threat to future generations.
He stressed that infrastructure projects must reflect genuine public needs rather than political interests.
He also challenged claims of economic stabilisation, pointing to rising inflation, declining purchasing power, and the high cost of living as indicators of ongoing hardship.
“True economic stability must focus on reducing inflation, making energy affordable, and empowering citizens to thrive,” he noted.
The YPP aspirant further criticised what he described as weak legislative oversight and limited public engagement on major financial decisions, emphasising that accountability remains central to democracy.
Reaffirming his ambition ahead of the 2027 general elections, Filani said he represents a new direction built on transparency, accountability, and sustainable development.
Quoting Nelson Mandela, he added, “It is the responsibility of the new generation to lead and take charge,” expressing confidence that his generation is ready to reposition Nigeria for genuine progress.
He urged Nigerians to remain informed, united, and hopeful, stating that the Easter season should inspire renewed courage and confidence in the nation’s future.
