Tinubu defends fresh borrowing, says loans will secure Nigeria’s future

President Bola Tinubu has defended his administration’s fresh borrowing from international financial institutions, insisting the loans will finance infrastructure projects and create economic opportunities for future generations.

According to PUNCH, Tinubu made the remarks in an essay shared Thursday by his spokesperson, Bayo Onanuga, amid criticism from opposition leaders.

“The real question is not how much we borrow, but what we build, what value we create and what future we leave behind,” Tinubu stated.

He identified the Lagos-Calabar Coastal Highway, Sokoto-Badagry Superhighway, electricity grid upgrades and port modernisation as projects expected to stimulate economic growth.

The President said the investments would reduce transportation costs, generate employment and support Nigeria’s ambition to build a $1 trillion economy by 2030.

He also cited improving economic indicators, including declining inflation and rising foreign reserves, as evidence of progress.

“Securing financing is not the achievement. Completing the project, delivering value and improving the lives of Nigerians is the achievement,” he added.