Tinubu defends borrowing plans, says investments will expand opportunities for future generations

Nigerian President Bola Tinubu defended new loans from international institutions and banks, arguing that their value should be judged by the infrastructure and economic benefits they create. He cited the Lagos-Calabar, Sokoto-Badagry and Trans-Sahara highways, electricity-grid upgrades and modernised Lagos ports, alongside investments in health, education and vocational training. Tinubu said the Lagos-Calabar highway could cut logistics costs along its route by 15 to 20 per cent, add up to 2 per cent to GDP and create about 100,000 direct jobs and more than 150,000 indirect jobs. He linked infrastructure investment to his goal of a $1 trillion economy by 2030, saying real GDP growth reached 4.43 per cent in the second quarter of 2026 and inflation fell to 14.63 per cent in September.