President Bola Tinubu has defended his administration’s decision to borrow money for infrastructure development.
He said the focus should be on what the country builds with the loans, not the amount borrowed.
The President made the remarks in an article titled: _”From Reforms to Delivery: Our Infrastructure Investment and Growth Strategy_.”
He said projects such as the Lagos-Calabar Coastal Highway, Sokoto-Badagry Superhighway and electricity grid upgrades will strengthen Nigeria’s economy.
Tinubu said the projects will reduce transport costs, connect markets and attract more private investment.
He added that investments in healthcare, education and vocational training will create more opportunities for Nigerians.
According to him, the Lagos-Calabar Coastal Highway alone is expected to create about 100,000 direct jobs and over 150,000 indirect jobs.
The President said the government is working towards building a $1 trillion economy by 2030.
He noted that such an ambitious target requires massive investment in modern infrastructure.
Tinubu said Nigeria’s economy grew by 4.43 per cent in the second quarter of 2026, while inflation dropped to 14.63 per cent in September.
He also said the country’s external reserves increased to $55.1 billion, while the tax-to-GDP ratio improved to 12.5 per cent.
The President attributed the improvements to reforms such as fuel subsidy removal, exchange rate unification and tax reforms.
He said the reforms have restored investor confidence and reduced Nigeria’s borrowing costs.
Tinubu stressed that his administration is borrowing to finance projects that will create jobs, grow the economy and benefit future generations.
He said the true measure of success will be completed projects, improved living standards and lasting economic opportunities for Nigerians.