ABUJA — The Speaker of the House of Representatives, Abbas Tajudeen, has thrown his weight behind President Bola Tinubu’s borrowing strategy, describing it as vital for driving economic growth and lifting millions of Nigerians out of poverty.
Speaking on Monday at the 8th Annual African Network of Parliamentary Budget Offices (AN-PBO) Conference in Abuja, Abbas dismissed reports suggesting that the House opposed the borrowing plan, labeling such claims as “mischievous and misleading.”
According to him, the National Assembly recognises the importance of responsible borrowing to fund key infrastructure, stimulate development, and safeguard vulnerable citizens.
“President Tinubu’s administration is channeling borrowed funds into transformative projects in power, transport, and agriculture, not for consumption,” Abbas said.
The Speaker emphasised that the borrowing strategy is being guided by prudence, transparency, and global best practices under Nigeria’s Medium-Term Debt Strategy. He also noted that Parliament is strengthening oversight mechanisms to ensure sustainability and accountability.
Abbas further highlighted the establishment of the National Assembly Budget and Research Office (NABRO) as a landmark reform that will provide independent analysis on borrowing, debt sustainability, and fiscal policy.
“The House is fully committed to ensuring that loans are used to transform lives, grow the economy, and reduce poverty,” Abbas reaffirmed.
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