President Bola Tinubu has defended his administration’s approach to borrowing, insisting that taking loans is not inherently negative if managed responsibly and tied to clear economic objectives.
Speaking on the country’s economic direction, Tinubu said borrowing should not be viewed as a stigma, noting that many developed and emerging economies rely on debt financing to drive infrastructure, stimulate growth, and support long-term development goals.
“If we have to borrow money, we borrow. Borrowing is not a leprosy,” the President stated, pushing back against criticisms of Nigeria’s rising debt profile.
He emphasised that the critical issue is not whether a government borrows, but how effectively the borrowed funds are deployed. According to him, loans must be channelled into productive sectors that can generate returns, create jobs, and strengthen the economy’s capacity to repay.
Tinubu stressed the importance of fiscal discipline, transparency, and strategic planning in managing public debt. He noted that borrowing without a repayment framework or without investing in growth-enhancing projects could become problematic, but maintained that responsible borrowing remains a legitimate economic tool.
The President also highlighted productivity as a key factor, arguing that increased output across sectors would boost government revenue and ease debt servicing pressures over time.
His remarks come amid ongoing public debate about Nigeria’s debt sustainability, with concerns raised over rising borrowing levels and their implications for future generations.
However, Tinubu maintained that borrowing, when properly structured and utilised, can support national development and economic transformation.
He reiterated that his administration remains focused on ensuring that any debt incurred contributes meaningfully to economic expansion, improves infrastructure, and enhances the overall standard of living for Nigerians.
Ultimately, he argued that the success of any borrowing strategy lies in accountability, efficient utilisation of funds, and a strong commitment to repayment obligations.
