MDPCO warns against fresh $20.5bn foreign loan

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The Makinde-Daura Presidential Campaign Organisation criticized President Bola Tinubu’s plan to seek about $20.5 billion and €1.04 billion in new foreign loans. It warned that continued borrowing could increase Nigeria’s debt burden and limit options for future generations.

The Makinde-Daura Presidential Campaign Organisation (MDPCO) has criticised President Bola Tinubu’s plan to secure fresh foreign loans totalling about $20.5 billion and €1.04 billion, warning that continued borrowing could increase Nigeria’s debt burden and constrain future generations. In a press statement dated October 28, 2026, signed by Richard Nnanna Ihediwa, Director of Strategic Communications MDPCO, […] The post MDPCO warns against fresh $20.5bn foreign loan appeared first on Vanguard News.