By our Reporter
Rt Hon Takudeen Abbas, Speaker of the House of Representatives, has reaffirmed that the Green Chamber fully supports President Bola Ahmed Tinubu’s borrowing plan, describing it as vital for Nigeria’s economic growth and poverty reduction.
Speaking in Abuja on Monday at the 8th Annual African Network of Parliamentary Budget Offices (AN-PBO) Conference, Abbas dismissed claims that lawmakers were against the President’s borrowing policy, calling such reports “m+schievous and misleading.”
According to him, a recent statement by the House Leader at the West African Parliamentary Conference (WAPC) was wrongly reported, creating the false impression that the House opposed Tinubu’s borrowing approach.
“The 10th House and the National Assembly have consistently maintained that, given our urgent developmental needs, strategic and responsible borrowing is a necessary fiscal tool. Like other modern economies, Nigeria must at times rely on credit to fund critical infrastructure, drive growth, and protect vulnerable groups. What matters, and what the President has assured, is that borrowing remains targeted, transparent, and sustainable under Nigeria’s Medium-Term Debt Strategy and in line with global best practices,” he explained.
Abbas stressed that under President Tinubu, borrowed funds are being channelled into transformative projects in sectors like power, transport, and agriculture to boost revenue generation rather than consumption. He noted that the House fully supports Tinubu’s vision of using prudent borrowing as a catalyst for growth and poverty reduction, while also ensuring strong oversight to guarantee accountability.
