Tinubu Defends Fresh Borrowing, Says Investments Are for Future Generations
President Bola Tinubu has defended his administration’s proposed fresh borrowing, saying the funds will finance critical infrastructure and create opportunities for future generations of Nigerians.
The President’s position was contained in a statement issued on Thursday by his Special Adviser on Information and Strategy, Bayo Onanuga.
Tinubu said the proposed loans form part of the Federal Government’s 2026–2027 borrowing programme, which targets key sectors including power, transportation, healthcare, education, agriculture, water supply, employment generation and poverty reduction.
He explained that Nigeria’s infrastructure deficit and the enormous cost of addressing it had made additional external borrowing necessary.
“In light of the need for significant infrastructure investment in the country and the vast financial resources needed to address this gap, it has become essential to pursue broader external borrowings to close the financing shortfall. This is for our children’s future,” the President said.
Tinubu added that the proposed projects had undergone technical and economic assessments and were expected to generate jobs, promote skills acquisition, encourage entrepreneurship, reduce poverty and strengthen food security.
He further disclosed that most of the projects would be implemented across Nigeria’s 36 states and the Federal Capital Territory, saying the nationwide distribution would help address development needs across the country.
