By George Omagbemi Sylvester
President Bola Ahmed Tinubu has dismissed growing concerns over Nigeria’s escalating debt profile, insisting that borrowing should not be viewed as an economic illness but rather a standard tool of national development financing.
Speaking in a recent public address shared across official channels, Tinubu argued that sovereign borrowing is a normal practice used by governments worldwide to fund infrastructure, stimulate growth, and bridge fiscal gaps.
His remarks come amid intensified scrutiny of Nigeria’s rising debt servicing obligations and widening budget deficits.
Nigeria’s public debt has continued to climb since 2023, driven by repeated budget deficits, exchange rate pressures, and large-scale infrastructure financing needs.
According to recent fiscal projections, debt servicing already consumes a significant portion of annual government revenue, raising concerns among economists about long-term sustainability and fiscal flexibility.
Analysts remain divided: while government supporters argue that borrowing is necessary to rebuild infrastructure and stabilize key sectors, critics warn that without stronger revenue growth and spending discipline, debt accumulation could constrain future development options and increase vulnerability to external shocks.
Tinubu’s framing of borrowing as “not a disease” reflects his broader economic stance of reform-driven expansion, but also deepens ongoing national debate over the balance between investment-led growth and fiscal restraint in Africa’s largest economy.
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