Nigeria’s President, Bola Ahmed Tinubu, has sparked widespread reactions following his remarks on the country’s growing debt profile and borrowing plans.
Addressing concerns about his administration’s approach to loans, Tinubu stated: “If we have to borrow money, we will. Borrowing is not leprosy; we just have to work hard to be able to pay it.” The statement has since gone viral, drawing mixed reactions from Nigerians across social media and economic circles.
The president’s comment comes amid reports that his administration is seeking Senate approval for a fresh $516 million loan in 2026. This has reignited public debate about Nigeria’s rising debt burden, especially at a time when many citizens are already facing economic strain.
It would be recalled that on the day of his inauguration, Tinubu announced the removal of fuel subsidy — a move that significantly impacted the cost of living nationwide. Since then, Nigerians have also had to contend with increased taxation and higher prices of basic goods and services, further intensifying scrutiny on government spending and borrowing.
While Tinubu insists that borrowing is a necessary tool for national development, critics argue that the real issue lies in transparency and the effective use of such funds. Many Nigerians have questioned whether previous loans have translated into tangible improvements in infrastructure, job creation, or economic stability.
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