Minister of the Federal Capital Territory (FCT), Nyesom Wike, has defended borrowing for infrastructure projects in Abuja following concerns raised by Senator Ireti Kingibe over the approval process for loans obtained by the FCT Administration.
Kingibe, who represents the Federal Capital Territory in the Senate, had questioned the legality of alleged borrowing without National Assembly approval.
Wike dismissed the allegations in Abuja on Tuesday after inspecting ongoing projects in the territory, according to the Voice of Nigeria.
The Dispute Over FCT Borrowing
The disagreement centres on the financing of infrastructure projects and the process through which borrowing obligations are authorised.
Kingibe has questioned whether the FCT Administration secured the necessary approvals, while Wike has maintained that the projects and their financing arrangements should be assessed in the context of the administration’s infrastructure programme.
The precise legal status of the transactions depends on the nature of the financing, the applicable statutory requirements and the documentation supporting each borrowing arrangement.
Wike’s Defence of Infrastructure Financing
Wike has argued that the focus should not be limited to the existence of borrowing but should include whether the funds are being used to improve the lives of residents.
The position emphasises the government’s infrastructure programme and the potential public benefits of capital expenditure.
However, the legality of borrowing cannot be determined solely by the purpose for which funds are spent. It also requires examination of the relevant approvals and statutory procedures.
National Assembly Oversight
The dispute raises questions about public borrowing, legislative oversight and the financing of capital projects in the Federal Capital Territory.
The House of Representatives’ deputy spokesperson, Philip Agbese, has also rejected allegations that Wike bypassed the National Assembly, saying that the minister committed no infraction in the financing of FCT projects.
ThisTimes
+1
A complete assessment would require the relevant loan documents, approval records and official statements from the authorities involved.