Tinubu Defends National Borrowing Policy to Finance Growth

By Babatunji Wusu

President Bola Ahmed Tinubu has spoken out in defence of his government’s decision to take on new loans. He explained that borrowing is a normal part of running a modern economy, as long as the money is used wisely. During a meeting at the State House in Abuja, the President told leaders that debt should not be seen as something shameful. He famously stated, “If we have to borrow money, we borrow. Borrowing is not a leprosy,” while pointing out that many successful countries use credit to build infrastructure.

The President believes that the real secret to managing debt is having a solid repayment plan. He stressed that his administration is focused on economic reforms and fiscal discipline to ensure Nigeria can pay back what it owes. Recently, the government received approval for significant loans, including funds for the Sokoto–Badagry Superhighway. Tinubu argued that these projects would eventually create wealth and improve the lives of all Nigerians. He noted that while taking loans is necessary for growth, the country must also work hard to increase its own productivity.

According to the President, the challenge for any nation is not the act of borrowing itself, but how the funds are managed. He promised that every kobo would be spent on projects that deliver tangible benefits to the people. By focusing on proper planning and economic reforms, he aims to prevent the national debt from becoming too heavy a burden. The President remains optimistic that with the right investments, Nigeria can build a stronger and more independent economy. He urged citizens to look past the stigma of borrowing and focus on the long-term progress these investments will bring to the country.

Do you believe that large-scale infrastructure projects are worth the increase in national debt?