Abuja, Nigeria | September 23, 2025
Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, has declared that the House stands firmly behind President Bola Tinubu’s borrowing plans, describing them as vital for funding critical infrastructure and driving economic recovery.
Speaking at the 8th Annual African Network of Parliamentary Budget Offices (AN-PBO) Conference in Abuja, Abbas dismissed reports suggesting opposition within the House, insisting lawmakers support the administration’s debt strategy provided it remains responsible and transparent.
He noted that Nigeria’s debt-to-GDP ratio has climbed to about 52 percent, above the statutory 40 percent ceiling, and urged close monitoring to ensure funds are directed towards projects capable of generating revenue and reducing poverty.
Abbas further stressed that the House would intensify oversight to guarantee accountability and alignment with the Medium-Term Debt Strategy, while ensuring borrowed resources target critical sectors such as power, agriculture, and transportation.
The Speaker assured that Parliament’s backing of the borrowing plan would not compromise its duty to safeguard public interest through scrutiny and legislative checks.
