Onauga (1).webp
The Presidency says Nigeria must face economic realities, insisting there's “no sin in borrowing” if funds are properly used. In defence of Tinubu’s N34tn loan request, presidential aides cited inflation battles, rising reserves, and reforms like student loans and road projects. But critics say debt is rising without accountability, accusing the government of lavish spending and poor fiscal planning.

  • Presidency justifies fresh N34.15 trillion loan request as necessary for development
  • Bayo Onanuga: “Even the US borrows. It’s what you do with it that matters.”
  • Claims of improved macroeconomic indicators and praise from global institutions
  • Debt servicing reportedly dropped from 97% to under 60% of revenue
  • Critics on Nairaland call it “credit-card governance” with no clear repayment plans
  • Public questions transparency, cites inflation, and poor infrastructure

While the government frames borrowing as a pragmatic necessity, public sentiment is starkly different. For many Nigerians, rising debt without a visible impact feels like a burden passed to future generations. The debate highlights a deeper crisis: not just how much Nigeria borrows, but how little people trust those spending it.