The Kwankwasiyya Movement has voiced serious concerns about Nigeria’s escalating debt levels, blaming the Federal Government for borrowing excessively and the National Assembly for failing to exercise proper oversight.
In a statement released on April 1, the movement’s spokesperson, Dr Habibu Sale Mohammed, warned that the ongoing approval of loans without thorough examination could jeopardize the nation’s economic stability.
Mohammed highlighted that borrowing without transparency, broad consultation, or a clear strategy for resource allocation threatens the country’s fiscal discipline and long-term sustainability.
He also criticized the uneven distribution of borrowed funds, noting a perception that resources are disproportionately favoring certain regions, which could deepen inequality and weaken national unity.
The movement further accused the National Assembly of aligning too closely with the executive branch, approving loans without sufficient debate or scrutiny. Mohammed stressed that such practices undermine democratic accountability and concentrate excessive power in the executive.
Kwankwasiyya urged civil society, political parties, and citizens to hold the government accountable and demand transparency in fiscal policy. The group called on the Federal Government to pause indiscriminate borrowing, ensure equitable resource distribution, and uphold the independence of democratic institutions, emphasizing that Nigeria’s future relies on strong democratic governance.
