Borrowing $21 billion to fund growth sounds bold — but will it leave Naija choking on debt? According to him, this cash grab could rebuild railways and boost education, but many are asking, borrow and spend or borrow and drown? #borrowing
The Details……
Nigeria’s Senate yesterday approved President Tinubu’s $21 billion borrowing plan — including €4 billion, ¥15 billion, $65 million grant and $2 billion domestic loan — to fill funding gaps in the 2025 budget.
That’s nearly ₦3.2 trillion if converted at ~₦1,525/$1 — a sum that could pay civil servants or build bridges… or bury us deeper in interest payments. This follows today’s top trending economic story: Nigeria news trending today latest Nigeria news.
So Naija dey borrow like student wey no study before WAEC. Borrowing to solve borrowing, sisyphean much? 🎢 This plan is like using a showroom car to fetch fuel. E may flash, e may flex—but e no go last.
Key takeaways:
Huge scale: $21B taps foreign markets and local bonds; includes rail, healthcare, education, housing.
Risk alert: Debt-to-GDP eased after rebasing, but this adds fresh burden — timing questionable amid inflation woes.
Mixed reviews: Pro-growth like extra Naira, but critics fear feeding debt hungry without clear revenue plan.
Social Media Comments…..
commented @NaijaPolicyGuy (X):
“Dem say na growth drive… but we fit dey remember how last borrowing run finish.”
commented @MarketMama (Facebook):
“Borrowing to build schools is good, but una get clear repayment”?
commented @DebtJollof (X):
“₦21 trillion? That money fit buy Jollof for una family for next 100 years!”
commented @RailLoverNG (X):
“Finally rail corridor dey! But who go pay diesel when naira weak dey?”
commented @MamaWealth (Facebook):
“They borrow, we pay. Simple math.”
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Comment below: Do you think borrowing is smart investment or national headache? Tag a friend who needs to hear this.
President Tinubu’s bold borrowing strategy aims to drive infrastructure, health, and education improvements, but raises alarms about Nigeria’s rising debt burden. As Nigerians grapple with inflation and repayment risks, the question remains—will this borrowing translate into sustainable growth or deeper economic strain? Borrowing now must come with fiscal discipline and transparent implementation to ensure it benefits the many, not just the few.
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