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President Bola Ahmed Tinubu has defended the borrowing plans outlined in Nigeria’s proposed 2025 budget, emphasising the necessity of addressing the country’s long-standing infrastructure and development deficits.
Speaking at the Presidential chat held in Abuja, Tinubu declared that borrowing is not inherently criminal but rather a tool to rectify past economic mismatches and pave the way for prosperity.
“Borrowing is not criminal. We have been coming from a mismatch of our needs. If you don’t put money on the long-term matching projects, on a long term basis, we don’t have the short term to manage a long-term business. It is mismatched. Yes, we have treaded the wrong road in the past, I don’t want to look at that, I want to think about prosperity for our country.”
The President also admitted that rebuilding the nation would not be an overnight process, emphasising patience and persistence.
“Regardless of critics, this is a project of restoration and hope, and that Nigeria is on a path of recovery. We can’t finish the job in one calendar year, and I’m not giving myself an excuse.”
Chioma Kalu
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