The Presidency has strongly defended President Bola Ahmed Tinubu’s borrowing policy, describing many Nigerians criticising the administration’s loan decisions as people who do not fully understand how national economies operate.
According to reports, presidential officials said borrowing is a normal economic strategy used by governments across the world to finance development projects and improve infrastructure. They stressed that the Tinubu administration is not taking loans recklessly but is focused on investments that can strengthen the economy over time.
The Presidency explained that the current government inherited serious economic difficulties, including mounting financial obligations, subsidy-related challenges, unstable foreign exchange rates, and declining revenues. Officials argued that under such conditions, borrowing becomes necessary to keep major sectors functioning and to support economic reforms.
Government sources also noted that funds obtained through loans are being directed toward infrastructure, transportation, energy supply, and other key projects intended to drive growth and create opportunities for Nigerians.
However, the statement has continued to generate reactions from citizens and economic observers. Many Nigerians remain worried about the country’s rising debt profile, especially at a time when inflation and the high cost of living are placing pressure on households across the country.
Some analysts have cautioned that continuous borrowing without strong revenue generation could create more financial strain in the future. Others believe that the real issue is not borrowing itself but whether the funds are managed transparently and used for projects that deliver meaningful results.
Supporters of the administration insist that several advanced economies also rely on borrowing to fund development and stimulate economic activity. They argue that what matters most is the government’s ability to channel the loans into productive sectors that can improve the lives of citizens.
Despite the criticism surrounding the issue, the Presidency maintained that the Tinubu administration remains focused on economic recovery and long-term national development, adding that the benefits of ongoing reforms may become clearer with time.