‘It’s for future generations’ — Tinubu justifies $20.5bn fresh borrowing

Tinubu said the proposed loans under the Federal Government’s 2026–2027 borrowing programme would support key sectors, including power, transportation, healthcare, education, agriculture and water supply.

The president’s position was contained in a statement issued on Thursday by his Special Adviser on Information and Strategy, Bayo Onanuga.

He explained that Nigeria’s infrastructure deficit and the huge cost of addressing it had made additional external borrowing necessary.

“Given the urgent need for substantial infrastructure investment and the enormous resources required to bridge the existing gap, we must explore broader external borrowing options to meet the funding shortfall. This is for the future of our children,” Tinubu said.

He maintained that the projects included in the borrowing programme had undergone technical and economic assessments to determine their viability and potential contributions to national development.

According to the president, the planned investments would generate employment, promote skills acquisition, encourage entrepreneurship, reduce poverty and improve food security.

“These initiatives are designed to create jobs, develop skills, support entrepreneurship, tackle poverty and strengthen food security, thereby improving the lives of Nigerian children,” he said.

Tinubu also disclosed that most of the projects would be implemented across Nigeria’s 36 states and the Federal Capital Territory, adding that the nationwide distribution would help address development needs across the country.