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How Tinubu borrowed $9.5billion for frivolous, unexplained projects – Ndume

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Muhammed Ali Ndume, Senator representing Borno South at the National Assembly, has once again carpeted President Bola Tinubu’s administration, this time, questioning the relevance of the projects for which a whopping $9.5billion borrowed from foreign lenders had been sunk.

All but dismissing the profile of the borrowings as frivolous, the fiery lawmaker, whose previous attacks on the President’s policies earned him a backlash from the All Progressives Congress (APC), which stripped him of his Chief Whip of the Senate position in 2024, returned to make mockery of the penchant of Tinubu to go for all manner of funny loans.

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To him, the issue was not about borrowing but the purpose of the loans and their impact to the country now and in future, especially when generations unborn would be required to pay back, adding that he would even encourage the President to borrow more if the proceeds were plunged into tangible projects that would uplift and sustain the Nigerian economy.

Hear him: “Let me say first of all that I’m not against borrowing. Even the greatest countries in the world – America, Japan, China – all are big borrowers. But they borrow for physical, tangible and countable projects that you spread and pay over time. But my worry is not even in the borrowing, it’s what you borrow for. Let me give you quickly a rundown of what I’m talking.

“You see, in June, 2023, $500million was borrowed for women programme to scale up MPWPS. Can you see that? Can Nigerians see it? Where are the women?

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“Then, on June 23rd, the same day, $800million was borrowed to cushion the impact of high petrol prices after fuel subsidy removal. How? Where? Then on September 23rd, 2023 under the same government, $700million was borrowed again for Adolescent Girls Initiative for Learning and Empowerment.

“Then in December, 23rd $750million was borrowed through what they called Renewable Energy Scale-up. On June 24, 2024, $1.5billion was borrowed to support Nigerian Reform for Economic Stabilisation to Enable Transformation. Then on June 24th, $750million was borrowed for Immediate Financial and Technical Support for Efforts to Stabilise the Economy and to Scale-up Support for the Poor and Most Economically.

“Where are the poor people? Look, whenever you’re doing something, if it is true, somebody will come out to say thank you. What passes through the Senate – these are itemized. You don’t pass the bulk, you pass the itemised.

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“These itemised borrowings were not passed. Not to my knowledge, because the Medium Term Expenditure Framework is something they bring and we look at it and maybe approve it. These things are bypassed. Before you pass the budget annually, there is the Mid-Term Expenditure Framework that must come to the National Assembly for approval.

“These are the things the government is anticipating to do. But that is not to say that even if it is approved it is a blanket approval. No. Every item must be accounted for. Because you need to ask questions, how are you going to do that? How is it important. Where is the money? What are the terms? All these things are supposed to be discussed first before you engage in it.

“That is the National Assembly approval. But as I said, when you total these borrowings, the figure I get is about $9.45billion, which amounts to about N13trillion. And as I said, I mentioned most of them. These are items that either intangible or have nothing to do with infrastructure. I would have supported for example, that the country is borrowing even more than that to build our infrastructures – to build railways.

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“These things are not tangible things that you can hold on to and these are things that you pay back in the next 40-50 years. That time, we’re gone. Am I going to tell my child or grandchild that we borrowed $700million an we’re paying in 20-30 years for Adolescent Girls Initiative? Nigeria fortunately, has enough human capital that we need to tap into. We have the human assets.

“I’m acting in my best principles as a Senator and a member of the APC. I’m a Bonafide member of the APC – in fact, one of those that signed as a Senator unto the initial formation of the APC. I’ve been there. Nigeria is my country. As I said, I don’t have any other country.

“I hear them talking about 2027 all the time. But for me, I’m talking about today. I’m 65. I thank God for my life. All these people shouting about 2027 they don’t believe in God, because 2027 two years ahead and you don’t know if Ndume is going to be alive then or even the President. They’re busy shouting about 2027. We’ve just finished with the mandate. We’re just two years. In fact until next month, the President is just two years old and you’re talking about 2027.

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“By the time the President is performing very well and Nigerians are happy, nobody will start talking about competing with Mr. President. It will be automatic. But as it is now, they keep on talking nonsense, as far as I’m concerned. Because, three things will determine whether this government is going to succeed or nor. One, security, two, welfare of the citizens and three that is related to the welfare is the economy itself. If it is not performing, then you can go and be talking nonsense, you cannot work.

“I’m Muhammed Ali Ndume. God created me differently and I’m going to account for my actions. If everything is to go the way I want, there would have been only one person in the Senate and that’s me. But that is not. So, we have 109 of us different senatorial districts, different makeup – God created us differently. God did not create two persons at a time.

“So, I cannot speak for them. And I cannot say my colleagues – but let me tell you, I have the support of my people, including my colleagues. The only difference is that they can’t come out and take the bullet the way I do. They’re always thinking that something will come.”

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BREAKING! Appeal Court halts Atiku! Says, Mark can’t be ADC Chairman!

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Atiku Abubakar seventh attempt at the presidency has been halted by the Court of Appeal in Abuja, which held that David Mark is not the fit and proper person to assume the position of the National Chairman of the African Democratic Congress (ADC) – the camp that produced the former Vice President as candidate of the party.

Hours after the former VP, who had attempted the bid for the nation’s number one job and is on the seventh edition by virtue of his nomination for the 2027 presidential election by the Mark, agreed with the position of the Federal High Court, Abuja, restraining the Independent National Electoral Commission (INEC) from recognising or participating in any state congresses organised by the former Senate President.

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Justice Okon Abang, while reading the lead-judgement in the three-to-one split, said there was no reason for the appellate court to set aside the April 29 order by the lower court, adding that Justice Joyce Abdulmalik, who barred Mark and his executives from interfering with the tenure and functions of the party’s elected state executives, was in order.

Agreeing that the responsibility for conducting state congresses of political parties rested with elected state executive committees and not with the national leadership, he ordered INEC not to recognise the executive produced as a result of the defective process.

Though his position was echoed by Donatus Okorowo in the majority, Justice Abba Mohammed, who disagreed sharply, with a dissenting judgment, held that the case that precipitated the restraining order bordered on a non-justiciable internal affair of a political party, adding that lower court was wrong to have assumed jurisdiction to entertain the matter.

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Lest we forget: Ibom Deep Seaport and Senator Godswill Akpabio — A prophecy foretold?

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By Ken Harries Esq

Some speeches disappear with the applause that greets them. Others acquire greater force with the passing of time. Their words do not change; history simply grows into them. Years later, they resonate with fresh power, not because they have been rewritten, but because the nation has finally arrived at the realities they foresaw.
One such speech was delivered in April 2012 at the 2nd South South Economic Summit in Asaba. There, Senator Godswill Akpabio, then Governor of Akwa Ibom State, presented what many regarded as an ambitious vision for maritime corridor and blue economy development.

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Speaking before political leaders, investors, and development stakeholders at the 2nd South South Economic Summit in Asaba, Akpabio outlined what many regarded as an ambitious vision for a model state in particular and regional development in general. Long before the Ibom Deep Seaport became a national priority, he argued that Nigeria needed new maritime gateways, integrated industrial clusters, aviation maintenance facilities, and modern logistics infrastructure to unlock economic growth. His vision was not simply about building a port; it was about creating an economic ecosystem capable of transforming a region and strengthening the nation’s competitiveness.

Fourteen years later, those remarks read less like political advocacy and more like an economic blueprint whose underlying logic has steadily been vindicated by events and times. Looking back today, his address appears almost prophetic—not because it predicted the future in mystical terms, but because Nigeria has gradually grown into the ideas it contained.

Truly visionary speeches never fade; they gather strength with time. This one deserves renewed attention, not because every prediction has materialised exactly as envisioned, but because it reveals a quality increasingly scarce in public leadership: the ability to think beyond electoral cycles.
Nigeria has never lacked projects. What it has often lacked are leaders willing to imagine the infrastructure of tomorrow while grappling with the demands of today. Akpabio’s vision was shaped by precisely that instinct.

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At a time when public discourse was largely focused on roads and recurrent expenditure, he spoke instead of logistics corridors, industrial ecosystems, aviation maintenance, manufacturing clusters, export processing zones, maritime and blue economy opportunities, and security reform—not as isolated initiatives, but as interconnected pillars of national competitiveness.

His vision for the then proposed Ibaka Deep Seaport, now known as the Ibom Deep Seaport, best illustrates this broader philosophy. Rather than presenting it as another state prestige project, he framed it as a strategic response to structural inefficiencies in Nigeria’s maritime sector and the wider economy. He argued that the Lagos ports were already burdened by severe congestion, with vessels waiting for extended periods to berth, driving up costs, disrupting supply chains, and delaying the delivery of critical imports, including pharmaceuticals.

His objective, however, was never to rival Lagos, but to complement it. The distinction is fundamental. No major trading nation concentrates all its strategic maritime infrastructure within a single corridor. Successful economies spread capacity, ease bottlenecks, and create multiple gateways through which commerce can flow efficiently. Nigeria has long recognised this principle in policy documents; Akpabio was among the few public leaders articulating it so clearly more than a decade ago.

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Equally significant was his emphasis on geography. He reminded his audience that Ibaka possessed a naturally deep coastline requiring little or no dredging, with water depths of approximately fifteen to seventeen metres. According to his account, the location had been identified as suitable for a deep seaport as far back as 1963, yet decades passed without meaningful progress. His observation that “being a minority area, there was nobody to push it” reflected a broader concern that strategic national investments have too often been influenced by political considerations rather than economic merit.

Whether one agrees entirely with that assessment is, in many respects, secondary. The larger point is that Akpabio consistently argued that national infrastructure should be driven by economic logic, strategic necessity, and long-term national interest rather than sentiment or political convenience. More than a decade later, that remains a lesson Nigeria is still striving to learn.

Yet, to see the 2012 Asaba address merely as a speech about a deep seaport is to miss its larger significance. The Ibom Deep Seaport was never presented as an end in itself. It was conceived as the anchor of a much broader economic ecosystem—a platform around which industries, manufacturing, aviation, logistics, free trade, and investment could flourish.

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Akpabio envisioned the acquisition of about 14,000 hectares of land to support a self-sustaining industrial city comprising fertiliser and ammonia plants, refining capacity, manufacturing facilities, and a Free Trade Zone. What development economists today describe as industrial clustering was already embedded in his thinking. The port was simply the gateway.

That broader vision deserves a discussion of its own. Today, Ibom Deep Seaport in that Asaba Speech has berthed.

•Ken Harries Esq is an Abuja-based Development Communication Strategist.

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Forgery: Nnaji, ex-Minister, regains freedom *Barred from leaving Nigeria!

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Justice Joyce Abdulmalik of the Federal High Court in Abuja, on Monday, granted allowed Uche Nnaji former Minister of Science and Technology, to go home, on the condition of a N20million bail bond.

Nnaji, who was arrested at Nnamdi Azikiwe International Airport (NAIA), Abuja on July 1 by officials of the Independent Corrupt Practices and other Offences Commission (ICPC), while returning to Abuja, was granted bail after pleading not guilty to a six-count certificate forgery charge.

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The anti-corruption agency alleged that Nnaji, Minister of Science and Technology between August 16, 2023 and October 6, 2025, when he resigned office after a crisis regarding his university degree broke out is currently the governorship candidate of the Peoples Democratic Party (PDP) in Enugu for in the 2027 general election, squaring up against Peter Mba, the incumbent, who incidentally won his office in 2023 under the same PDP, before defecting to the ruling All Progressives Congress (APC).

He was accused of forging his academic credentials, especially a degree certificate from the University of Nigeria, Nsukka (UNN) alongside presenting a bogus National Youth Service Corps (NYSC) discharge certificate during his ministerial screening process in 2023.

At the proceedings on Monday, the former Minister pleaded not guilty to the charges, and following an application by James Onoja (SAN), his lawyer, was granted to bail in the sum of N20 million with one surety in the like sum, who must also be a civil servant resident in Abuja, not be below grade level 15.

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The court, which ordered the surety to depose to an affidavit of means, mandated the former Minister to also surrender his international passport and not travel outside the country without permission, while fixing September 21 for the commencement of the trial.

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