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“Borrowing Is Not a Disease” — Tinubu Defends Rising Debt Amid Fresh Loan Plans

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Promise Odejide

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President Bola Ahmed Tinubu has defended Nigeria’s growing debt profile, saying borrowing is a necessary tool for development and should not be seen as a negative. He made the remarks on Tuesday at the Presidential Villa in Abuja during a meeting with Plateau State Governor Caleb Mutfwang and other stakeholders.

His comments come amid renewed scrutiny over the country’s increasing reliance on loans.

Tinubu Insists Borrowing Key to Development Goals

The President said the focus should be on how borrowed funds are used and repaid, not the act of borrowing itself. He maintained that strategic financing remains essential for infrastructure growth and economic expansion.

“If we have to borrow money, we will, because borrowing is not leprosy; we just have to work hard to be able to repay it,” he said.

Fresh Loans Linked to Major Infrastructure Push

The defence follows the National Assembly’s approval of a $516.3 million loan for the Sokoto–Badagry superhighway project. The planned 1,000-kilometre corridor is expected to link key states across the North-West and South-West.

Government officials say the project will improve connectivity, ease movement, and unlock economic opportunities along the route.

Nigeria’s Debt Profile Continues to Climb

Concerns have grown over Nigeria’s rising debt burden, with figures from the Debt Management Office showing total public debt reached about ₦159.28 trillion as of December 2025. The increase has been driven by fresh borrowing and exchange rate pressures.

If additional loan requests exceeding $6 billion are approved, projections suggest the country’s total debt could approach ₦195 trillion.

Criticism Mounts Over Borrowing Strategy

The administration has faced criticism from opposition figures, including former Vice President Atiku Abubakar, who questioned the pace and transparency of new borrowing. He warned that excessive debt without clear repayment plans could pose long-term risks.

Critics have called for stronger accountability, detailed cost-benefit analysis, and strict adherence to procurement processes.

President Calls for Shift in Public Narrative

Tinubu argued that borrowing should be viewed within the context of economic productivity and long-term growth. He said many advanced economies rely on debt financing to achieve major development milestones.

The President added that his administration is focused on building infrastructure and strengthening the economy to ensure debts are sustainably managed.

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