‘Something is not adding up’ - Analyst questions Tinubu’s $20.5bn loan request

Economic and financial analyst Emmanuel Kelvin has questioned President Bola Tinubu’s administration’s $20.5 billion and €1.45 billion fresh external borrowing request. In an interview on Channels Television, Kelvin argued that rising crude oil prices of $145 per barrel should translate into increased government revenue in Nigeria. His remarks come amid controversy surrounding President Tinubu’s request for a $20.5 billion and €1.45 billion supplementary borrowing package to fund infrastructure, agriculture and education. Kelvin questioned why the Federal Government was seeking additional loans despite the increase in crude oil prices, which could potentially boost Nigeria’s revenue from ...