“Borrowing is not Leprosy”: Tinubu Defends Loans In Trending Video

“Borrowing is not Leprosy”: Tinubu Defends Loans In Trending Video

  • President Bola Ahmed Tinubu defended borrowing as necessary for national development amidst rising public debt concerns
  • Nigerians expressed strong reactions to President Tinubu's comments on borrowing and national budget management
  • Public critiques highlight fears of increased debt impacting Nigeria's financial stability and governance

Legit.ng journalist Adekunle Dada has over 8 years of experience covering metro, government policy, and international issues

FCT, Abuja - President Bola Ahmed Tinubu has insisted that his administration will continue to borrow for infrastructure development whenever necessary.

Legit.ng reports that President Tinubu asked the Senate to approve a fresh $516m loan from Deutsche Bank to fund sections of the Sokoto–Badagry Super Highway.

Nigeria’s Debt Woes: President Tinubu Insists Borrowing is Essential
Public outcry over debt as Tinubu insists on borrowing. Photo credit: Asiwaju Bola Ahmed Tinubu
Source: Facebook

The 1,000-kilometre project is designed to connect Nigeria’s North-West and South-West, cutting travel time between Sokoto and Lagos almost in half.

The federal lawmakers said the highway could be a major boost to trade, food security, and national integration

Read also

Kenyan President makes important clarification about viral video on Nigerian English proficiency

President Tinubu said borrowing for development should not be viewed negatively.

Tinubu stated this on Wednesday, April 29, 206, during a meeting with Plateau leaders led by Governor Caleb Mutfwang, and Nentawe Yilwatda, national chairman of the All Progressives Congress (APC).

“If we have to borrow, we borrow. Borrowing is not a leprosy; we just have to work hard to be able to pay for it.”

President Tinubu’s comment comes amid rising public concern over Nigeria’s growing debt burden.

Nigerians have expressed concern over the increasing share of national revenue committed to debt servicing.

Nigerians react as Tinubu defends borrowing

@zainababbaharuna414

But we don't have to borrow. You can't withhold 2 years budget and then go borrowing to cover up for that. Where did the money go to. Thiefnubu, what hard work have you cut out for us? Taxation right? Who are those laughing and clapping?

@alexfreemind5143

This man really wants to finish Nigeria using borrowing of loans as a tool to cripple Nigeria to zero.

Read also

APC chieftain weighs in on Wale Edun’s sudden removal, “I have been calling"

@DANYAROYAKUBU

Borrow for what reason, borrow to steal, is not allowed. Where is the subsidy money? This is cruel and insensitive.

@ihediohaifeanyi2916

What are they clapping for? Ahhh, the start clapping. The reason these people see us finish is because we don't have sense.

@OluwatosinFooted

Baba Go Rest! The Country Is Bleeding.

@abujaexplorer

Tell me this is AI
President Bola Tinubu defends borrowing for national development
President Bola Tinubu faces rising debt concerns after insisting on borrowing. Photo credit: Asiwaju Bola Ahmed Tinubu
Source: Facebook

Reps approve Tinubu’s request to borrow $516m

Recall that the House of Representatives approved President Tinubu’s request to borrow $516,333,007 for infrastructure development.

Deputy Chairman Abdullahi Rasheed presented the committee report, which lawmakers adopted before ratifying the loan request during plenary.

The approved loan was designated to support the construction of sections of the Sokoto–Badagry Superhighway to boost connectivity and economic activities.

Atiku blasts Tinubu over $516m loan request.

Meanwhile, Legit.ng earlier reported that Atiku Abubakar criticised President Tinubu over $516 million loan for the Sokoto–Badagry Superhighway project.

Read also

Amount Wale Edun and other ministers who left Tinubu's cabinet will receive emerged

The former vice president warned against prioritising borrowing over responsible governance and sustainable development.

Atiku urged federal lawmakers to scrutinise loan terms for the benefit of Nigerians.

Source: Legit.ng

Authors:
Adekunle Dada avatar

Adekunle Dada (Politics and Current Affairs Editor) Adekunle Dada is a trained journalist with over 8 years of working experience. He is also a Politics/Current Affairs Editor at Legit.ng. He holds a B.Sc. in Mass Communication from Lagos State University, Ojo. Adekunle previously worked at PM News, The Sun, and Within Nigeria, where he expressed his journalistic skills with well-researched articles and features. In 2024, Adekunle obtained a certificate in advanced digital reporting from the Google News Initiative. He can be reached via adekunle.dada@corp.legit.ng.

Tags: