Nigeria’s N152tn debt largely inherited – Edun tells Senate
The Minister of Finance, Wale Edun, told the Senate that Nigeria’s N152 trillion debt is mostly inherited, with only about N20 trillion borrowed since 2023. Exchange rate fluctuations also increased the naira value of foreign loans, contributing to the debt growth. Edun explained that the proposed N58.472 trillion 2026 budget focuses on growth-enhancing projects aimed […]
We’re In Support Of Tinubu’s Borrowing Plan – Speaker Abbas
The Speaker of the House of Representatives, Hon. Tajudeen Abbas, has declared that the National Assembly fully supports President Bola Ahmed Tinubu’s borrowing plan. Speaking during a session at the National Assembly, Speaker Abbas explained that the loans are necessary to finance critical infrastructure projects, boost economic recovery, and meet urgent national needs. He stressed […]
It is not a sin to borrow. Even developed nations like the USA and the United Kingdom borrow – Presidency
Many people worry when they hear that a country is borrowing money. But borrowing is not always a bad thing. Even rich countries like the United States and the United Kingdom borrow money to help their economies grow. The Nigerian Presidency has explained that borrowing is fine if it is done carefully and the money […]