“Borrowing is not leprosy" — Tinubu defends raising Nigeria's debt to record ₦159 trillion

President Bola Tinubu defends Nigeria’s continued borrowing, including a $516 million loan request, stating that debt is not harmful if managed properly, as Nigeria’s debt-to-GDP ratio rises above 50% amid economic debates.

President Bola Ahmed Tinubu has defended Nigeria’s continued borrowing strategy, including a recent $516 million external loan request, insisting that borrowing is a normal financial tool for development and not something to be feared.

“Borrowing is not leprosy; we just have to work hard to be able to pay back,” Tinubu said, as he justified the government’s fiscal approach to financing infrastructure and economic reforms.

By Rukayat Badmus
Full story at Pulse NG.