President Bola Tinubu stated on Wednesday at the State House in Abuja that his administration will continue to borrow when necessary, emphasizing that borrowing should not be viewed negatively. He made the remarks during a meeting with Plateau State leaders led by Governor Caleb Mutfwang.
Tinubu said, 'Borrowing is not leprosy. It is not a disease. It is a tool for development.' He argued that responsible borrowing is essential for infrastructure and economic growth, citing examples from other nations.
The president did not specify the amount or purpose of future loans. Nigeria's public debt stood at N87.38 trillion as of Q3 2023, according to the Debt Management Office. The government has faced criticism over rising debt levels.
Governor Mutfwang thanked Tinubu for receiving the delegation and discussed security and development challenges in Plateau State. The meeting was part of ongoing consultations between the federal government and state leaders.
