TINUBU FIRES BACK AT CRITICS OVER FRESH BORROWING, SAYS LOANS WILL FUND PROJECTS AND CREATE OPPORTUNITIES FOR FUTURE GENERATIONS
President Bola Tinubu has defended his administration’s decision to secure additional loans, insisting that the focus should be on what the borrowed funds are used to achieve rather than the amount borrowed. He listed major infrastructure projects, including the Lagos-Calabar Coastal Highway, Sokoto-Badagry Superhighway, Trans-Sahara Superhighway, electricity grid upgrades and the modernisation of key ports in Lagos, as investments expected to boost Nigeria’s productive capacity. Tinubu said the Lagos-Calabar highway could reduce logistics costs along its corridor by 15–20 per cent, contribute up to two per cent to GDP and create about 100,000 direct jobs, with more than 150,000 indirect jobs. “We are not simply building highways. We are opening economic corridors, connecting markets, unlocking industries and reshaping Nigeria’s economic geography,” he said. The President maintained that his target of growing Nigeria into a $1 trillion economy by 2030...