President Bola Ahmed Tinubu has defended his administration’s stance on borrowing, saying taking loans is not a crime as long as the country has a clear plan to repay. Speaking on the state of the economy, Tinubu stressed that borrowing is a common global practice and should not be treated as something shameful. ....…
According to the President, “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.” His statement comes at a time when concerns are growing over Nigeria’s rising debt profile and the pressure it places on the economy.
Tinubu explained that loans can be useful when they are properly invested in key sectors such as infrastructure, education, and job creation. He noted that his administration is focused on ensuring that borrowed funds are used wisely to drive growth and improve the living standards of Nigerians.
The President also emphasized the importance of discipline and accountability in managing public funds. He assured citizens that his government is working to boost revenue generation while cutting unnecessary spending. ....…
Economic experts have long argued that borrowing itself is not the problem, but how the funds are used and repaid. Tinubu’s remarks appear to align with this view, as he called for hard work and strategic planning to ensure Nigeria meets its financial obligations.
As the country continues to navigate economic challenges, the President’s comments are likely to spark further debate about fiscal policy, debt sustainability, and the path to long-term economic stability.
