The Speaker of the House of Representatives, Abbas Tajudeen, has clarified that the National Assembly is not opposed to President Bola Tinubu’s borrowing policy, insisting that lawmakers support borrowing as a legitimate tool for funding infrastructure and driving sustainable growth.
Abbas gave the assurance on Monday in Abuja while delivering the keynote address at the 8th Annual African Network of Parliamentary Budget Offices Conference, organised by the National Assembly in partnership with the National Assembly Budget and Research Office.
His remarks followed media reports suggesting that the legislature was uncomfortable with the administration’s debt strategy, particularly after concerns were raised at the 11th Annual Conference of the West Africa Association of Public Accounts Committees, where Nigeria’s debt-to-GDP ratio of 52 per cent — above the 40 per cent statutory threshold — was highlighted. The Speaker stressed that borrowing, when carefully applied, remains a globally recognised fiscal instrument. He explained that the President