In an update published by *Daily Post*, Federal Capital Territory (FCT) Senator Ireti Kingibe has publicly challenged FCT Minister Nyesom Wike over allegations of securing massive domestic loans without obtaining prior approval from the National Assembly.
Data cited from Debt Management Office (DMO) records indicates that domestic debt for the FCT expanded significantly from ₦88.51 billion in September 2023 to ₦389.88 billion by March 2026. Senator Kingibe asserted during a legislative briefing that no borrowing requests or approval bills were formally submitted to the Senate for review by the FCT administration during the period.
The FCT Minister’s media team subsequently rejected the allegations, stating that all infrastructural procurement policies, financial arrangements, and development projects in Abuja complied fully with statutory guidelines and executive authorizations.
Reflecting the dispute, *Pulse Nigeria* cited Senator Kingibe as stating, “I have never seen Wike come to the National Assembly and before the Senate to ask for approval of anything”. Meanwhile, *The ICIR* quoted Wike’s media aide, Lere Olayinka, responding that “there’s nothing the FCT has done that is not approved by those who should approve”.
Echotitbits take:
This ongoing friction highlights deep-seated political and statutory oversight conflicts in the administration of the Federal Capital Territory. As FCT debt grows to fund capital projects, clear consensus on legal borrowing protocols between the National Assembly and the FCT Administration will be necessary to prevent fiscal instability.
Source: Pulse – https://www.pulse.ng/story/ireti-kingibe-nyesom-wike-fct-loans-approval-2026082712234802973, August 27, 2026
Photo credit: The Nation
