“Why Nigerians Should Not Doubt Tinubu’s Loans”: Reps Deputy Spokesman Explains
- The Deputy Spokesperson of the House of Representatives, Hon. Philip Agbese, has spoken up after the National Assembly approved President Bola Tinubu's request for fresh loans
- The chieftain of the All Progressive Congress (APC) said there is no doubt that President Tinubu will utilise loans for intended purposes
- The federal lawmaker said President Tinubu is a meticulous economic planner and a tested strategist
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FCT, Abuja - The Deputy Spokesperson of the House of Representatives, Hon. Philip Agbese, said President Bola Ahmed Tinubu will prudently manage Nigeria’s resources.
Agbese described Tinubu as a “meticulous economic planner” whose leadership is gradually rebuilding the nation’s financial stability.
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He said recent approvals for external borrowing by the Federal Government should not cause concern among Nigerians.
“No doubt, President Tinubu will utilise every loan for the purpose it was intended. He is meticulous, visionary, and deeply committed to seeing Nigeria prosper. This is the kind of leadership our nation has long desired—and it’s one we must all rally behind.”
Legit.ng recalls that the National Assembly had approved Tinubu’s request to raise a total of $2.347 billion from the international capital market. This is to part-finance the 2025 budget deficit and refinance maturing Eurobonds.
The federal lawmaker said every loan will be judiciously used for its intended purpose under Tinubu’s watch.
He stated this during an interview with newsmen at the National Assembly in Abuja, which statement was made available to Legit.ng
“We must understand that President Bola Ahmed Tinubu is not just an ordinary politician; he is a tested economic strategist who has demonstrated exceptional prudence in resource management.
“His record as Lagos State Governor remains a model of how strategic planning and fiscal discipline can transform a region into an economic powerhouse.”
Agbese argued that Tinubu’s approach to national development is driven by a clear blueprint designed to strengthen critical sectors, stimulate job creation, and ensure sustainable economic growth.
“Mr. President knows what he is doing. He doesn’t take decisions impulsively. Every borrowing plan under this administration is carefully thought out, with a clear framework for repayment and measurable developmental outcomes. Nigerians can trust his sense of judgment.”
Lawmakers urged to hold Tinubu accountable for loans
Recall that the Civic Alliance for Fiscal Transparency (CAFT) called on members of the National Assembly to hold the executive accountable for newly approved foreign loans and the sluggish implementation of the 2025 capital budget, or resign from office.
In a statement released on Saturday, CAFT President, Engr. Ayodele Olaposi accused lawmakers of failing to live up to their constitutional responsibilities.
Olaposi said Nigerians were tired of a legislature that “approves loans with one hand and closes its eyes with the other.” govt-accountable-loans-2025-budget.
Tinubu seeks fresh $347 million loan
Legit.ng also reported that President Tinubu sought approval for new borrowings amid a growing debt burden and high debt service costs.
A recent report disclosed that the President said the new loan would be used to complete a critical federal infrastructure project.
Experts say the new loan, if approved, would pile more pressure on Nigerians by raising the national debt and debt per capita.
Source: Legit.ng
