SERAP Urges Tinubu To Disclose Nigeria’s Loan Agreements Since 1999



The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to disclose the agreements and spending details of loans obtained by the administrations of Nigeria’s past presidents since May 1999.

SERAP urged Tinubu “to direct appropriate ministries, departments and agencies to provide our organisation with copies of the loan agreements obtained by the governments of former Presidents Olusegun Obasanjo, Umaru Yar’Adua, Goodluck Jonathan and Muhammadu Buhari.”

This was disclosed in a statement issued by the organisation’s Deputy Director, Kolawole Oluwadare, which was made available to the media on Sunday.

SERAP is also seeking “the spending details of any such loans as well as the interests and other payments so far made on the loans.”

The organisation stated that “widely publishing the agreements would allow Nigerians to scrutinise it and to demand accountability for the spending of the loans.”

SERAP lamented that the details provided may help to explain why “despite several billions of dollars in loans obtained by successive governments, millions of Nigerians continue to face extreme poverty and lack access to basic public goods and services.”

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