‘It’s for your children’s future’: Tinubu defends $20.5bn in fresh borrowing

Nigerian President Bola Tinubu defended the federal government’s 2026-2027 borrowing programme, saying the investments are intended to benefit future generations. In a statement issued Thursday by Special Adviser Bayo Onanuga, he said external borrowing was necessary to address the country’s infrastructure deficit and funding needs. The proposed funds would support sectors including power, transport, healthcare, education, agriculture and water supply, as well as job creation and poverty reduction. Tinubu said most projects would be carried out across Nigeria’s 36 states and the Federal Capital Territory, with expected benefits including jobs, skills development, entrepreneurship and improved food security.