The Civic Alliance for Fiscal Transparency (CAFT) has urged members of the National Assembly to either hold the executive responsible for the newly approved foreign loans and the delayed rollout of the 2025 capital budget or resign from their positions.
In a statement issued on Saturday, Engr. Ayodele Olaposi, president of CAFT, said Nigerians have grown weary of a legislature that “approves loans with one hand and closes its eyes with the other.”
He stressed that the role of lawmakers extends beyond simply approving budgets; they must ensure that every borrowed dollar and every naira allocated for capital projects produces tangible results for the citizens.
Olaposi noted that while President Bola Tinubu’s government has made gains in revenue through fiscal reforms and increased oil earnings, these benefits have yet to be seen in the lives of ordinary Nigerians due to the largely unimplemented 2025 budget.
“It is unacceptable that after celebrating revenue growth and sanctioning multi-billion-dollar loans, the government still delays the execution of the 2025 capital budget,” he said.
“This postponement damages the economy and diminishes public trust. Full and transparent implementation of the budget will demonstrate that this administration is truly committed to developing the nation, not merely managing headlines.”
CAFT highlighted that Nigeria’s debt burden has continued to rise, surpassing N149 trillion by mid-2025, with debt servicing now consuming more than 60 percent of federal revenue.
The group cautioned that without stringent parliamentary oversight, future generations will inherit mounting debts without corresponding development.
“The National Assembly must not become a rubber-stamp for unsustainable borrowing. Every loan approved must be monitored, audited, and linked to measurable outcomes. The time has come for legislators to justify the confidence placed in them or step aside for those who will,” Olaposi stated.
CAFT called on the federal legislature to demand full disclosure of how the new foreign loans will be allocated, project by project, with priority given to infrastructure, job creation, and poverty alleviation.
The group also urged the publication of quarterly progress reports to rebuild public trust in fiscal management.
“True accountability is not about speeches or committee meetings—it’s about results. When roads are constructed, schools operate effectively, and hospitals are equipped, Nigerians will know governance is working. Until then, every borrowed fund must be scrutinised,” the statement said.
CAFT reaffirmed its support for responsible fiscal governance and praised the administration’s declared focus on non-oil revenue growth and local industrialisation. However, it insisted that economic progress must lead to social advancement.
“The government must not let bureaucratic sluggishness undermine the promise of reform. We call on lawmakers to stand firm, demand results, and ensure the 2025 budget fulfils its purpose—to restore confidence and deliver development for all Nigerians,” the group concluded.
