LP Urges Akpabio To Emulate Abbas, Condemn Tinubu’s ‘Reckless Borrowing’

The Labour Party (LP) has challenged Senate President Godswill Akpabio to emulate Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas, in condemning what it described as President Bola Tinubu’s “reckless and unsustainable borrowing spree.”

The call came in a statement issued on Tuesday by the party’s Interim National Publicity Secretary, Tony Akeni, who said Nigeria’s debt profile had reached alarming levels that threatened the country’s economic stability.

The statement recalled that Speaker Abbas had on Monday raised concerns about the federal government’s borrowing, warning that the trend posed grave risks to the nation’s financial health.

Although the Speaker later clarified that “borrowing is not bad in itself, but what it is used for is what matters,” the Labour Party insisted that his initial remarks were courageous and should not be watered down.

“In just the first three months of 2025, Nigeria’s debt stock skyrocketed from ₦121.7 trillion to ₦149.39 trillion. This pushed the debt-to-GDP ratio to 52%—well above the 40% ceiling set by law,” Akeni said.

“Even worse, within nine months, ₦8.93 trillion, or 61% of total government revenue, was swallowed by debt servicing. These figures are not mere statistics.

“They are a death sentence on the economic future of Nigerians, both living and unborn. For Speaker Abbas, an APC leader, to admit this much shows how unsustainable Tinubu’s borrowing has become.”

While noting that Abbas himself had been complicit in approving several loan requests by the Tinubu administration, the Labour Party stressed that his latest warning should be seen as a step in the right direction.

“We commend Speaker Abbas for breaking the ranks of blind loyalty and admitting that the borrowing binge is destructive. His courage should not be condemned but amplified, because it might help slow down the APC government’s financial recklessness,” the party said.

Turning to Senate President Akpabio, the LP urged him to “rise above partisanship” and resist the temptation to serve as a rubber stamp for the executive.

“History will not absolve leaders who help mortgage the destiny of this nation. Akpabio must remember: a people crushed by hunger and poverty will one day rise against their oppressors,” Akeni warned.

The opposition party maintained that no new loan request should be approved unless backed by a clear, measurable plan for infrastructure, economic growth, and social impact.

“Nigeria cannot continue piling up debts just to fund waste, luxury, and political patronage. The time to put Nigeria first is now,” the statement concluded.

LP Urges Akpabio To Emulate Abbas, Condemn Tinubu’s ‘Reckless Borrowing’ is first published on The Whistler Newspaper