Tinubu Defends Fresh Borrowing, Says Infrastructure Investments Will Benefit Future Generations

President Bola Ahmed Tinubu has defended his administration’s proposed fresh borrowing, arguing that the funds will help address Nigeria’s infrastructure deficit and create opportunities for future generations.

The president’s position was contained in a statement issued on Thursday by his Special Adviser on Information and Strategy, Bayo Onanuga, concerning the Federal Government’s 2026–2027 borrowing programme.

Tinubu said the proposed external borrowing was necessary because of the substantial financial resources required to close the country’s infrastructure gap and fund critical development projects.

He identified power, transportation, healthcare, education, agriculture, water supply, employment generation and poverty reduction as priority areas targeted by the borrowing plan.

“In light of the need for significant infrastructure investment in the country and the vast financial resources needed to address this gap, it has become essential to pursue broader external borrowings to close the financing shortfall. This is for our children’s future,” the president said.

Tinubu maintained that projects under the programme had been selected following technical and economic evaluations, with consideration given to their expected contributions to Nigeria’s socioeconomic development.

According to him, the planned investments are expected to generate employment, promote skills acquisition, encourage entrepreneurship, reduce poverty and strengthen food security.

“These initiatives aim to generate employment, promote skills acquisition, foster entrepreneurship, reduce poverty and enhance food security, all of which improve the livelihood of the Nigerian child,” he said.

The president also disclosed that most of the projects would be implemented across Nigeria’s 36 states and the Federal Capital Territory, saying the nationwide distribution was intended to address development needs across different regions.

Tinubu’s defence of the borrowing programme comes as his administration seeks additional financing for infrastructure and other development priorities. The statement outlined the government’s intended uses for the funds but did not specify the total amount proposed to be borrowed or provide details of the individual projects and their financing terms.