Fix Waste, Publish Old Projects Before New Loans, Agada Tells FG

The Presidential Candidate of the Younger Progressives Birthday party (YPP), Architect Dr Peter Agada, has requested the Federal Executive to mend waste of price range within the nation and post main points of previous initiatives prior to searching for new exterior loans.

He stated contemporary borrowing with out blockading leakages and finishing current initiatives would best aggravate Nigeria’s debt burden with out tangible advantages to voters.

Recall that President Bola Tinubu had on Tuesday written to Senate President Godswill Akpabio, searching for Nationwide Meeting popularity of a supplementary exterior borrowing plan of $20.52 billion and €1.045 billion for 2026-2027.

The proposed borrowing is meant to finance infrastructure initiatives in energy, transportation, well being, agriculture and water around the 36 states and the Federal Capital Territory.

It comes at a time when Nigeria’s overall public debt stands at N166.79 trillion as of June 2026, with debt carrier at N15.81 trillion and monetary deficit at N31.46 trillion, whilst capital price range efficiency stays under 40 according to cent.

It’s going to even be recalled that the Federal Executive secured popularity of $2.347 billion in exterior borrowing in October 2025, with little public disclosure on implementation.

Reacting in a observation issued on Wednesday, Agada suggested the Nationwide Meeting to call for an in depth compendium of up to now funded initiatives, appearing particular places through ward and state.

“Nigeria may generate over N13 trillion every year with out new loans thru lean governance, reducing price of governance through 40 according to cent and collapsing 250 duplicating companies into 40.” he stated

He added that Engineering, Procurement and Building (EPC) direct contracting reforms would take away middlemen and save 35 according to cent on capital initiatives.

“In structure, you don’t borrow to construct a brand new space if in case you have now not roofed the previous one. An architect does now not upload load to a collapsed pillar, he strengthens it first,” Agada stated.