Expert urges Tinubu to explore Sukuk over fresh foreign loans
Akande said non-interest instruments could attract investors, improve transparency and keep borrowing tied to projects that can repay themselves.
- On Thursday, President Bola Tinubu defended his administration's fresh borrowing plans, requesting National Assembly approval for $20.52bn and €1.045bn in external loans targeted at infrastructure, power, healthcare, and education sectors.
- Senator Adams Oshiomhole, representing Edo North, backed the proposal, arguing that Nigeria's large landmass necessitates sustained infrastructure investment to connect economic zones and that "we have to be able to borrow."
- Paul Ibe, media aide to Atiku Abubakar, challenged the $21.7 billion plan, demanding a breakdown of 46 projects across 11 sectors and questioning the 7.8 per cent commercial interest rate on proposed loans.
- Financial expert Asiwaju Busari Shaamsuddeen Akande urged the Federal Government to explore sovereign Sukuk and asset-backed financing, warning that high debt-servicing costs could constrain spending on essential public services.
- Tinubu maintains that achieving a $1 trillion economy by 2030 requires sustained infrastructure investment across the 36 states and Federal Capital Territory to improve productivity, industrialisation and trade capacity.
19 Articles
19 Articles
'It's for your children's future' – Tinubu defends $20.5bn fresh borrowing as Nigerians groan
President Bola Tinubu has defended fresh borrowing plans by his administration, insisting that the investments will expand opportunities for future generations of Nigerians. This is contained in a statement by his Special Adviser on Information and Strategy, Bayo Onanuga, on Thursday. The president said the proposed borrowing is part of the Federal Government's 2026-2027 borrowing […] It's for your children's future' – Tinubu defends $20.5bn fre…
Tinubu defends borrowing plans, says investments will expand opportunities for future generations
President Bola Tinubu has robustly responded to criticism, especially from opposition leaders, over new loans the country has accessed from international institutions and banks. In an essay titled “From reforms to delivery: Our infrastructure investment and growth strategy,” to be published on Nigerian news platforms, President Tinubu wrote: “The real question is not how much […]
Tinubu defends borrowing plans
President Bola Tinubu has defended his administration’s borrowing plans, saying investments from the loans will expand opportunities for future generations. In an essay titled “From reforms to delivery: Our infrastructure investment and growth strategy,” President Tinubu said the real question is not how much the country borrows, but what it builds, what value it creates …
Tinubu projects 250,000 jobs from Lagos-Calabar highway - NewsTmes.com.ng
President Bola Tinubu says the Lagos-Calabar Coastal Highway could generate about 250,000 direct and indirect jobs, as he defends borrowing to finance infrastructure projects across Nigeria. Tinubu, in an article titled From Reforms to Delivery: Our Infrastructure Investment and Growth Strategy, said the highway could cut logistics costs along its corridor by 15 to 20 …
Tinubu Defends Foreign Loans, Says Nigeria Must Invest In Infrastructure
President Bola Tinubu has robustly responded to criticism, especially from opposition leaders, over new loans the country has accessed from international institutions and banks. In an essay titled “From reforms to delivery: Our infrastructure investment and growth strategy,” to be published on Nigerian news platforms, President Tinubu wrote: “The real question is not how much […]
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