It's for your children's future' – Tinubu defends $20.5bn fresh borrowing as Nigerians groan

President Bola Tinubu has defended caller borrowing plans by his administration, insisting that the investments volition grow opportunities for aboriginal generations of Nigerians.

This is contained successful a connection by his Special Adviser connected Information and Strategy, Bayo Onanuga, connected Thursday.

The president said the projected borrowing is portion of the Federal Government's 2026-2027 borrowing programme, adding that it is targeted astatine captious sectors including power, transportation, healthcare, education, agriculture, h2o supply, employment procreation and poorness reduction.

According to him, the standard of Nigeria's infrastructure shortage and the immense fiscal resources needed to code it person made outer borrowing necessary.

"In airy of the request for important infrastructure concern successful the state and the immense fiscal resources needed to code this gap, it has go indispensable to prosecute broader outer borrowings to adjacent the financing shortfall. This is for our children's future," Tinubu said.

He maintained that the projects and programmes included successful the borrowing program were selected based connected thorough method and economical valuation and their anticipated publication to the socio-economic improvement of the country.

He explained that the investments are expected to make jobs, beforehand skills acqui...