Security expert Bulama Bukarti has faulted President Bola Tinubu’s $21 billion loan request, which is currently before the National Assembly.

Bukarti recalled that Tinubu said he removed the fuel subsidy to save funds for Nigeria, which would be channeled into the nation’s development.

Naijaonpoint reports that the security expert, in a statement on Wednesday, noted that fuel subsidy removal imposed hardship on Nigerians, yet the President has not shown what the revenue is used for.

Bukarti said the effect of the savings from the subsidy has yet to be seen in the country, as hardship and hunger continue to be the lot of the citizen.

He said, “President Tinubu sought the approval of the National Assembly to borrow $21.5 billion and €65 million—an amount that translates to approximately ₦34 trillion, representing over 60% of the entire 2025 national budget.

“When President Tinubu plunged Nigerians into hardship by removing fuel and foreign exchange subsidies, he justified the move by claiming the funds would be redirected toward infrastructure development and economic growth.

“Yet today, Nigerians are grappling with unprecedented levels of hunger and poverty, without any clear justification. Worse still, the government continues to accumulate debt—just like previous administrations that maintained those very subsidies.

“So the question is: Where are the funds saved from the subsidy removal? Why is the country still resorting to massive borrowing, both domestically and internationally?

“And most importantly: What tangible benefits have Nigerians seen from the removal of fuel and dollar subsidies?“