The Nigerian presidency has defended its borrowing practices, asserting that taking loans is not inherently wrong when used for national development. In a recent statement, the administration emphasized that borrowing is a strategic tool to address the country’s infrastructure deficits, such as poor road networks, inadequate internet connectivity, and unreliable power supply. The government clarified that these loans are not intended to burden citizens but to foster economic growth and improve living standards. Acknowledging past mismanagement of borrowed funds, the presidency expressed a commitment to ensuring that current and future borrowings are utilized effectively for the nation’s benefit.
