President Bola Ahmed Tinubu has defended his administration’s decision to continue seeking external loans to fund national projects, asserting that debt is a necessary tool for economic growth.
Speaking on the matter, the President emphasized that his government would not shy away from borrowing as long as the funds are channeled into productive sectors of the economy.
Addressing stakeholders in a recent session, the President dismissed the stigma often associated with national debt.
He maintained that the focus should not be on the act of borrowing itself, but on the ability of the nation to manage and settle its obligations through consistent economic productivity.
According to him, “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.”
President Tinubu further explained that no nation can achieve significant developmental milestones without strategic financial leverage.
He noted that the current administration is committed to building infrastructure and creating an environment where the economy can thrive enough to service these debts comfortably.
He insisted that the narrative surrounding the country’s debt profile needs to change, as borrowing remains a standard practice for many global powers seeking expansion.
