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The Conference of Nigeria Political Parties (CNPP) has expressed mixed feelings following President Bola Ahmed Tinubu’s recent financial disclosure during his maiden Presidential Media Chat in Lagos.
While the statement appeared to highlight some positive strides, it has sparked a series of critical questions regarding the administration’s financial management.
During the media interaction, President Tinubu stated that his government has successfully met its financial obligations without relying on the Nigerian National Petroleum Corporation Limited (NNPC Limited) for funding. He further emphasized that, despite the administration being only “18 months” old, it was on the right path and marked a “glorious dawn” for the country. “Push me to my brag mode, in the last three months, I’ve not taken a penny from NNPC before I meet my other obligations. To me, that is excellent,” the President confidently declared.
The CNPP, the umbrella body of all registered political parties and political associations in Nigeria, acknowledged the President’s efforts to manage the nation’s finances but voiced serious concerns about the lack of clarity surrounding the administration’s financial decisions. In a statement signed by its Deputy National Publicity Secretary, Comrade James Ezema, the CNPP expressed concern over the implications of the President’s disclosure.
The CNPP questioned why the government has been borrowing to finance the 2024 budget while oil revenues are reportedly available through NNPC. The body argued that it “does not make any business sense” for the government to continue borrowing at a time when the country is facing an escalating debt crisis, especially when crude oil revenues are said to be lying in NNPC’s coffers. This issue becomes even more troubling considering the severe economic hardship faced by ordinary Nigerians, many of whom are struggling to access basic necessities and even relying on free food aid to survive.
The CNPP has demanded a more detailed explanation from President Tinubu regarding why borrowing continues to be prioritized over utilizing available oil revenue. It has also pressed the administration to clarify an earlier revelation that Nigeria’s crude oil has been sold in advance. The CNPP insists that Nigerians have a right to know the specifics of this transaction, including the duration of the sale and the terms agreed upon with the buyers.
In its statement, the CNPP emphasized that transparency and accountability are vital for fostering trust between the government and the Nigerian people. The body urged President Tinubu to provide comprehensive information on these matters to ensure the public fully understands the financial decisions being made. This, according to the CNPP, is crucial to maintaining confidence in the administration as Nigeria moves closer to 2025.
“Only through such transparency can the administration build the trust and confidence of the Nigerian populace,” the CNPP concluded, reinforcing the call for a clearer, more open approach to financial governance in the country.
News Ghana, Latest Updates and Breaking News of Ghana, News Ghana, https://newsghana.com.gh/cnpp-raises-concerns-over-president-tinubus-financial-disclosure/
