The speaker of the House of Representatives, Tajudeen Abbas, has clarified his comments on federal government borrowing, saying his position was not to reject borrowing outright but to stress responsible debt management. He spoke on Monday at the opening of the annual conference of the West Africa Association of Public Accounts Committees, WAAPAC, in Abuja.
Represented by House Majority Leader Julius Ihonvbere, Abbas said public debt could serve as a tool for growth when managed prudently, but warned that reckless borrowing for consumption or corruption must be exposed and rejected. He added that every borrowing decision must reflect transparency and the collective interest of Nigerians.
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In a statement, his media adviser Musa Krishi said the Speaker’s remarks aligned with President Bola Tinubu’s Renewed Hope Agenda, which prioritises fiscal discipline, prudent resource management, and investment in infrastructure, education, green energy and social welfare. He said Nigeria could leverage responsible borrowing for sustainable development.
While emphasizing the need for strong parliamentary oversight, Abbas also cited recent assurances by President Tinubu that Nigeria had surpassed its 2025 revenue target and would no longer rely on borrowing to finance government spending.
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