Speaker Tajudeen Abbas says the House fully supports President Tinubu’s borrowing plan, describing it as “essential” for growth.
The Speaker of the House of Representatives, Tajudeen Abbas, has affirmed that the Green Chamber fully supports President Bola Tinubu’s borrowing strategy, describing it as vital for Nigeria’s growth and poverty reduction.
Speaking in Abuja on Monday at the 8th Annual African Network of Parliamentary Budget Office Conference, Abbas dismissed reports suggesting the House opposed Tinubu’s loan plan. He called such claims “mischievous and misleading.”
“The 10th House and indeed the National Assembly have consistently affirmed that, in the face of pressing developmental needs, strategic and responsible borrowing is an essential fiscal tool,” Abbas said.
He explained that funds borrowed under Tinubu’s leadership are directed toward transformative sectors like power, transport, and agriculture, with emphasis on transparency and sustainability.
Abbas added that plugging financial leakages is equally critical, noting that Nigeria loses about $18 billion annually to corruption and illicit flows. He assured Nigerians that the borrowing plan remains guided by global best practices and strict oversight.