Emmanuel OchayiThe Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to reveal the agreements and spending specifics of loans obtained by Nigeria’s former presidents since May 1999.
In a statement by the organization’s Deputy Director, Kolawole Oluwadare, SERAP emphasized the need for transparency: “We urge Tinubu to direct relevant ministries, departments, and agencies to provide our organization with copies of the loan agreements obtained by the governments of former Presidents Obasanjo, Yar’Adua, Jonathan, and Buhari.”
SERAP emphasized the importance of making these agreements public, stating, “Widely publishing the agreements would allow Nigerians to scrutinize and demand accountability for the spending of the loans.”
Expressing concern over Nigeria’s persistent poverty despite significant loans, SERAP lamented, “Millions of Nigerians continue to face extreme poverty and lack access to basic public goods and services.”
This call from SERAP follows a similar demand made to governors across Nigeria, requesting loan agreements and spending details from their respective states.
In response to the Debt Management Office’s report on sub-national debts, some states have denied borrowing the stated amounts. Zamfara State, for instance, refuted claims of borrowing N14.26 billion, while Kaduna State denied procuring a $17.69m loan.
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SERAP urged Tinubu to institute an independent audit of loans obtained by past presidents, emphasizing the importance of accountability and transparency in democracy.
Quoting figures from the Debt Management Office, SERAP highlighted Nigeria’s significant debt burden, stressing the need for proper management and accountability.
The organization also reminded Tinubu of the constitutional and legal obligations regarding transparency and citizens’ right to information.
“If we have not heard from you within seven days, SERAP shall take all appropriate legal actions to compel your government to comply with our request in the public interest,” the organization warned.
SERAP concluded by underlining the fundamental principle that citizens should have access to information about their government’s activities, in line with Nigeria’s constitution and international commitments.
This call for transparency from SERAP underscores the ongoing efforts to ensure accountability and good governance in Nigeria.
