Presidency: Tinubu Government Borrowing Billions to Boost Infrastructure

The presidency says President Tinubu’s team has taken on billions of dollars in loans to upgrade the nation’s roads, power and ports. The Special Adviser on Policy Communication responded to comments from the Emir of Kano, Muhammad Sanusi, who estimated Nigeria needs between $30 billion and $100 billion each year to fix its infrastructure shortfalls. Sanusi criticized the administration for still relying on debt despite ending the fuel subsidy, saying savings from subsidy removal should cut borrowing and show clear economic gains. He also welcomed recent strides in local refining and exports but urged the government to translate those wins into reduced debt and better public services.

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