Presidency defends Tinubu’s borrowing, says critics are ‘economically ignorant’

The Presidency has defended President Bola Tinubu’s borrowing policy, arguing that Nigeria still has room to take on more debt to fund critical infrastructure projects.

According to Peoples Gazette, presidential spokesman Bayo Onanuga said critics of the government’s borrowing programme were displaying “economic and financial ignorance.” He maintained that Nigeria’s debt levels remain lower than those of countries such as Egypt, South Africa and Senegal.

Onanuga argued that loans used for roads, electricity, transport, ports and agriculture create long-term national assets that can drive economic growth.

The remarks come amid growing concerns over Nigeria’s rising debt profile, which the Debt Management Office said climbed to N159.28 trillion as of December 31, 2025.