FG’s N21trn borrowing tied to critical infrastructure, social project, says aide
The Special Adviser, Media & Public Communication/Spokesperson to President Bola Tinubu, Mr. Sunday Dare on Tuesday hinted that the N21 trillion Senate approved medium-term borrowing plan by the federal government is tied to critical infrastructure and social projects such as railway, power, Health, education among others.
Dare in a post on X titled, “setting thr record straight on Nigeria’s borrowing plan,” breaking down the loan said, the foreign loans stood at ~$21 billion (including €4billion, ¥15billion & a $65millio grant) and $2 billion (~N758billion) domestic borrowing.
According to him, the disbursement is over 2025–2026, not a lump sum, maintaining that the funds support targeted investments—not recurrent budgets, stating that this is how the economic grow and not through handouts or headlines, but by fixing roads, lights, and lives.
He noted that Nigeria debt is sustainable amid its borrowing.
“After the July 2025 GDP rebasing, Nigeria’s debt-to-GDP ratio dropped to ~39per cent, below our 40per cent cap.
“Our borrowing remains within safe limits, guided by a debt strategy that favors concessional loans and careful oversight,” he tweets.
He expressed further that the funds does not get disbursed without FEC approval, DMO oversightand National Assembly review
“This is accountability by design—not business as usual,” he added.
About the N758biillion pension bond, he said, “It’s not new spending. It’s a restructuring tool to settle pension arrears and honor commitments to retired workers.”
He explained further that Tinubu’s reforms—fuel subsidy removal, FX unification—have been tough but necessary.
“The borrowing plan helps cushion the impact while driving long-term results,” he said.
In conclusion, he said Nigeria’s borrowing is planned, project-linked, and responsible.
