It’s not how much we borrow, but what we build — Tinubu

President Bola Tinubu defended his plan for new external borrowing, saying the funds would support infrastructure to strengthen Nigeria’s productive capacity. He cited the Lagos-Calabar, Sokoto-Badagry and Trans-Sahara highways, upgrades to the electricity grid and Lagos ports, as well as investment in healthcare, education and vocational training. Tinubu said the Lagos-Calabar highway could cut logistics costs along its route by 15 to 20 percent, add up to 2 percent to GDP and generate about 100,000 direct jobs and more than 150,000 indirect jobs. The Nigeria Labour Congress challenged his request for legislative approval to borrow $20.5 billion and €1.45 billion, demanding justification despite claims of rising government revenue.