N166.79trn debt: Fresh $7.7bn loan puts Senate under scrutiny

• Debt servicing gulps 65% of revenue as Atiku, Umeh question borrowing spree
 
From Fred Itua and Adesuwa Tsan , Abuja
The National Assembly is facing renewed scrutiny over its approval of successive multibillion-dollar loans as President Bola Tinubu seeks another $7.707 billion in external borrowing, with Nigeria’s public debt rising to N166.79 trillion and debt servicing consuming about 65 per cent of government revenue.
The fresh request has reignited questions about the Senate’s oversight of government borrowing, particularly the speed of some previous approvals, the terms attached to the facilities and the extent to which funds already borrowed have translated into compl...