Reps Back Tinubu’s Borrowing Plan — Speaker Tajudeen Abbas Declares Full Support!
Reported by Fasesan Marian opeyemi | Sele Media African
The Speaker of Nigeria’s House of Representatives, Tajudeen Abbas, has openly declared the lower chamber’s full support for President Bola Ahmed Tinubu’s borrowing strategy, emphasizing that the move is crucial for economic stabilization and development.
Speaking at a public engagement on national budget financing in Abuja, Speaker Abbas said that the current economic realities necessitate borrowing to fund critical infrastructure and social programs.
“We in the House of Representatives fully support President Tinubu’s borrowing plans. It is strategic and necessary for the economic growth of our nation,”Abbas stated.
He argued that while debt concerns are valid, the focus should be on “productive borrowing” — funds channeled into impactful projects that generate long-term returns.
The declaration comes amid mixed public reactions and expert concerns over Nigeria’s rising debt profile. According to data from the Debt Management Office (DMO), Nigeria’s total public debt stood at over N87 trillion as of Q2 2025. Tinubu’s administration has defended its borrowing, citing global inflation, post-COVID economic strain, and the need for urgent capital injections.
Abbas noted that the National Assembly will ensure transparency, oversight, and value-for-money audits on all borrowed funds to guarantee accountability.
“We are not endorsing reckless borrowing. Every loan must have a clear plan and purpose. That’s our commitment to Nigerians,”he added.
President Tinubu’s borrowing plans are tied to key sectors like energy, transport, education, and agriculture, as highlighted in the proposed 2026 national budget.
Sele Media Africa will continue monitoring legislative and public responses to this economic strategy.
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