President Bola Ahmed Tinubu has defended his administration’s approach to borrowing, stating that taking loans is not inherently wrong as long as there is a clear and sustainable plan for repayment.
Speaking on the nation’s economic direction, the president stressed that borrowing should not be viewed negatively, noting that many economies depend on debt to drive growth and development.
“If we have to borrow money, we borrow. Borrowing is not a leprosy,” he said, while emphasising the need for discipline and productivity in managing public finances.
Tinubu explained that the real concern is not borrowing itself, but how effectively the funds are utilised and the government’s ability to repay without creating long-term financial strain.
According to him, prudent management, strategic planning, and ongoing economic reforms are essential to ensure that borrowed funds contribute meaningfully to national development.
Elijah Adeyemi
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