The Speaker of the House of Representatives, Abbas Tajudeen, says the Green Chamber fully supports President Bola Tinubu’s borrowing plan, describing it as vital for economic growth and poverty reduction. He was speaking in Abuja on Monday at the 8th Annual African Network of Parliamentary Budget Offices Conference.
Abbas dismissed reports suggesting the House opposed the plan, insisting such claims were misleading. He said strategic and responsible borrowing remained essential for financing infrastructure, stimulating growth, and protecting vulnerable citizens.
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The Speaker explained that funds under Tinubu’s leadership are being channelled into power, transport, and agriculture projects to expand revenue-generating capacity. He added that borrowing was being done in line with Nigeria’s Medium-Term Debt Strategy and global best practices.
He also highlighted reforms such as the National Assembly Budget and Research Office to ensure independent oversight. Abbas noted that while borrowing is necessary, plugging corruption and illicit financial flows, which cost Nigeria about 18 billion dollars annually, is equally important.
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