Amid that, the Senate recently approved a new $21 billion external borrowing plan.

The Co-founder of Citizen Monitors, Adeshope Haastrup, in a statement made available to newsmen, titled, “Unchecked Borrowings: Citizen Monitors Demands Transparency,” said“Debt isn’t the enemy, opacity is.”

“Every kilometre of road, every classroom, every megawatt built with borrowed funds should be visible and verifiable.”

Citizen Monitors pointed to recent loan approvals as evidence of urgency: $2.25 billion from the World Bank in June 2024 for macroeconomic reforms, $1.08 billion in April 2025 for education, nutrition and resilience, $254.76 million from China Development Bank for the Kano–Kaduna rail, and China Exim-backed financing for roads.