The Makinde National Reset Advocates (MINARA) has urged Nigerians to be cautious of the All Progressives Congress (APC) following President Bola Tinubu’s request to the Senate for approval of $20.51 billion and €1.45 billion in external borrowings to cover funding gaps under the Federal Government’s 2026–2027 supplementary borrowing plan.
The group, in a statement signed by its State Coordinator, Bashorun Abiola on Tuesday, said it was disturbing that, as Nigerians grapple with harsh economic realities, the APC-led Federal Government is plunging the nation deeper into debt instead of cutting frivolous expenses.
MINARA questioned what funding gap prevents the Federal Government from cutting its extravagant expenses at this trying time, asking why an administration that claims to be broke is living in opulence.
“They questioned the funding gap that exists that made the Federal Government not cut down expenses at this trying time where the APC administration gifts more than party youth leaders SUVs worth ₦120 million each,” the group stated.
The group specifically questioned reports that more than 20 brand-new 2026 Toyota Prado SUVs, each valued at ₦120 million, had been distributed to APC youth leaders nationwide at a total cost exceeding ₦2 billion, at a time when the government is seeking fresh foreign loans.
“What is the moral justification for distributing over 20 brand-new 2026 Toyota Prado SUVs worth ₦120 million each to APC youth leaders nationwide, totaling over ₦2 billion, when you are asking the Senate to approve $20.51bn and €1.45bn in external borrowing to fund the budget?” MINARA queried.
MINARA lamented that the development is coming at a time when families across the country are struggling to afford food and basic medicines, pay rent, and secure decent employment.
“How do you explain to a common Nigerian who cannot afford three square meals, who cannot buy basic drugs, who cannot pay his rent, that you are borrowing $20.51 billion and €1.45 billion in his name, yet you are sharing ₦120 million SUVs to party youth leaders? This is insensitivity taken too far,” the group said.
The group therefore charged residents nationwide to beware of the APC and its style of governance, which it described as “borrow to share among party faithful, suffer for the masses.”
It called on the National Assembly to thoroughly scrutinize and reject the fresh borrowing request, insisting that the Federal Government must first cut down the cost of governance and stop wasteful spending before seeking new loans that will be repaid by future generations.
