President Bola Tinubu has defended his administration’s continued borrowing strategy, saying it will keep taking loans when necessary and that borrowing should not be viewed in a negative light.
Bola Tinubu made the remarks on Wednesday at the State House during a meeting with Plateau State leaders, including Governor Caleb Mutfwang and APC National Chairman Nentawe Yilwatda.
The President stated that borrowing remains a legitimate tool for national development, stressing that the key priority is the ability to repay and manage debt responsibly.
According to him, “If we have to borrow, we borrow. Borrowing is not leprosy; we just have to work hard to be able to pay for it.”
His comments come at a time of growing public debate over Nigeria’s rising debt profile and the increasing portion of government revenue allocated to debt servicing.
In recent developments, the House of Representatives approved a request by the President for an additional $516.3 million external loan to finance sections of the Sokoto–Badagry Superhighway project.
Earlier, the President had also sought National Assembly approval for external borrowing totaling about $6 billion, which includes a proposed $5 billion structured financing arrangement with First Abu Dhabi Bank in the United Arab Emirates.
Nigeria’s debt profile continues to expand, covering both federal and state obligations. The Debt Management Office recently disclosed that the country’s total public debt reached N159.27 trillion at the end of the fourth quarter of 2025, reflecting a steady rise from previous periods.
The debt stock comprises both domestic and external borrowings, with the federal government accounting for the largest share, alongside contributions from state governments and the Federal Capital Territory.
Officials have attributed the increase to new borrowing for budget financing and infrastructure projects, as well as multilateral and bilateral loan disbursements.
Despite concerns from analysts and citizens, the government maintains that borrowing remains essential for infrastructure development and economic growth.
