The presidency has said that Nigerians can still take more loans to finance infrastructure across the country.
Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, said this in a statement posted on his verified X handle on Tuesday.
Onanuga said that Nigeria has not overborrowed compared to countries like Egypt, South Africa, and the West African country of Senegal.
He was reacting to criticisms that the current administration of President Tinubu has borrowed more in three years than the previous administration did in eight years.
“Nigeria has not overborrowed compared to countries like Egypt, South Africa, and the West African country of Senegal.
“Nigeria is creditworthy and can still take more loans to finance infrastructure.
“The unwarranted alarm against loans is symptomatic of economic and financial ignorance,” he said.
DAILY POST reports that at the moment, Nigeria’s total public debt stands at roughly N159 trillion, split between external and domestic obligations.
