President Bola Tinubu has defended his administration’s borrowing strategy, insisting that taking loans is essential for Nigeria’s long-term growth and not a criminal act. Speaking during a presidential media chat on Monday, Tinubu addressed concerns over the N13.39 trillion deficit projected in the 2025 national budget, which is set to be financed largely through borrowing.
“Borrowing is not criminal,” Tinubu asserted, explaining that Nigeria’s urgent need for infrastructure development, including better roads, internet, and power, justifies the government’s borrowing approach. “We have a serious infrastructural deficit, and we must address it for the future of this country.”
The 2025 budget, presented to the National Assembly, is a hefty N47.96 trillion, with defense, infrastructure, and human capital development as key priorities. However, critics like former Vice President Atiku Abubakar argue that the nation’s growing debt is becoming a heavy burden, warning that the current loans could “crush” the economy.
Despite the mounting opposition, Tinubu remains firm in his belief that investing in long-term projects will secure a more prosperous future for Nigeria.
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