President Bola Tinubu has defended his administration’s approach to borrowing, stating that taking loans remains a legitimate tool for economic development if properly managed.
Speaking during a recent engagement, the President noted that borrowing should not be viewed negatively, stressing that what matters most is the country’s ability to utilise funds effectively and ensure repayment.
“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,” Tinubu said.
He explained that governments across the world rely on borrowing to finance infrastructure and key development projects, adding that Nigeria would not be an exception in pursuing growth.
The President emphasised that his administration is focused on strengthening the economy to meet its financial obligations, assuring that borrowed funds would be channelled into productive sectors capable of driving revenue generation.
Tinubu also highlighted the importance of fiscal discipline, noting that loans must be tied to projects that deliver measurable impact and support long-term economic stability.
His remarks come amid ongoing discussions about Nigeria’s rising debt profile and concerns from stakeholders over sustainability and repayment capacity.
Economic analysts say the government’s borrowing strategy will likely remain under scrutiny, particularly as the administration balances development needs with fiscal responsibility.
Further details on planned borrowing and spending priorities are expected as the government continues to outline its economic roadmap.