Expert cautions Tinubu against debt trap, calls for asset-backed infrastructure funding

Asiwaju Busari Shaamsuddeen Akande, a Fellow of the Institute of Credit Administration, urged President Bola Tinubu to curb borrowing for infrastructure and favor public-private partnerships and sovereign Sukuk. He warned that piling up debt without sufficient economic returns could jeopardize Nigeria’s goal of building a $1 trillion economy by 2030. Akande said high government borrowing costs could discourage banks from lending to businesses and called for infrastructure to be linked to industrial and agricultural production centres. He also recommended directing some project revenue toward reducing public debt.