Ita Enang, a former Nigerian Senator and ex-Special Adviser to President Muhammadu Buhari, has criticized the National Assembly for its role in Nigeria's mounting debt and the devaluation of the naira. Speaking at the presentation of Oversight Magazine in Abuja, Enang lamented the Assembly's failure to fulfill its oversight responsibilities, particularly in examining the nation's economy. He accused lawmakers of neglecting to publish reports on their oversight activities, which would provide transparency on budget execution and project implementation.
Enang, a prominent figure within the All Progressives Congress (APC), rebuked the National Assembly for its neglect in scrutinizing the country's financial health. He pointed out the absence of published oversight reports and the failure to interrogate budget implementation and expenditure as significant shortcomings of the legislative body.
Highlighting the importance of oversight in monitoring budget disbursements and project advancement, Enang stressed its role in shaping future fiscal strategies. He expressed disappointment over the lack of substantive inquiry by the Assembly into critical issues such as national debt and budget adherence.
Although acknowledging some oversight efforts directed at government agencies, Enang criticized the lack of follow-up, as these findings rarely translate into discussions on the parliamentary floor. He attributed governmental policy shortcomings to the lax oversight by both the National Assembly and state Houses of Assembly.
Furthermore, Enang underscored that the National Assembly's oversight deficiencies have contributed to a lack of transparency regarding budget execution and financial reporting, exacerbating Nigeria's debt burden. He condemned the dismissive attitude towards substantive debates on economic matters, accusing certain members of trivializing crucial issues with rhetoric.
According to reports from The PUNCH, Enang questioned, "Has the National Assembly ever inquired whether the loan we obtained was invested in projects that would generate revenue to repay the loan and its accrued interest? They have never asked, and we rely on oil revenue to repay loans we obtained. Unfortunately, most of these loans never make it to Nigeria. Some are invested in Sports Utility Vehicles, while others are stashed away."