TINUBU DEFENDS FRESH BORROWING, SAYS INFRASTRUCTURE INVESTMENTS WILL CREATE OPPORTUNITIES FOR FUTURE GENERATIONS

By NaijaParrot | October 30, 2026 

Abuja, Nigeria 

 President Bola Ahmed Tinubu has defended his administration’s plans to obtain additional foreign loans, arguing that the funds will be channelled into critical infrastructure and investments capable of expanding economic opportunities for future generations.

The President made his position known in an essay titled “From Reforms to Delivery: Our Infrastructure Investment and Growth Strategy,” published amid growing criticism from opposition figures and organised labour over the Federal Government’s borrowing plans. Tinubu maintained that the debate should focus not merely on the volume of loans obtained but also on the economic value, productive capacity and long-term benefits generated by the projects financed with borrowed funds.  

According to him, Nigeria requires sustained investment in infrastructure to achieve its ambition of becoming a $1 trillion economy by 2030. 

 The President identified the Lagos-Calabar Coastal Highway, Sokoto-Badagry Superhighway, Trans-Sahara Superhighway, electricity grid upgrades and the modernisation of major commercial ports in Lagos as key projects expected to strengthen the country’s economy. He explained that investments in transportation, electricity and other critical infrastructure would connect economic centres, reduce logistics costs, support agriculture and industrial production, and attract private-sector investment.

 Tinubu also highlighted the importance of complementary investments in healthcare, education and vocational training, describing human capital development as essential to achieving sustainable economic growth. The President cited the Lagos-Calabar Coastal Highway as an example of infrastructure expected to generate significant economic benefits. 

 According to projections presented by his administration, the project could reduce logistics costs along its corridor by between 15 and 20 per cent and contribute up to two per cent to Nigeria’s Gross Domestic Product through increased trade, tourism and industrial activities. It is also projected to create approximately 100,000 direct jobs and more than 150,000 indirect employment opportunities. 

 Tinubu argued that the government was shifting its borrowing strategy towards long-term financing for productive assets rather than relying primarily on loans to cover short-term fiscal gaps. He explained that infrastructure projects expected to serve the country for several decades should be financed through arrangements that reflect their lifespan, while reducing refinancing pressures. 

 The President also pointed to improvements in selected economic indicators and Nigeria’s international financial standing as factors he believes could help the country secure more favourable long-term financing. He stressed that the success of the borrowing programme should ultimately be measured by completed projects, job creation, increased productivity and improved living standards. 

 The President’s defence comes amid questions from the Nigeria Labour Congress and opposition figures over the justification for additional external borrowing, particularly against the background of the country’s existing debt obligations and the economic pressures facing households. Reports indicate that the Federal Government has sought legislative approval for fresh external borrowing of $20.5 billion and €1.45 billion. 

 Critics have called for greater transparency regarding the purpose of the proposed loans, the cost of individual projects, repayment arrangements and the expected benefits to ordinary Nigerians. The debate has therefore placed renewed attention on the need to balance infrastructure development with responsible debt management and public accountability. 

 While the administration maintains that borrowing for productive infrastructure can create lasting economic value, Nigerians will be watching to see whether the proposed investments translate into completed projects, employment opportunities and measurable improvements in their daily lives.  

The real test of public borrowing lies in transparency, completed projects and lasting benefits for Nigerians. 

NaijaParrot 🦜 

 Your News, Your Voice! | Hear It First, Hear It True!