Speaker of the House of Representatives, Tajudeen Abbas, has explained his earlier remark on federal government borrowing, saying it was not a call to reject loans but a push for responsible debt management.
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The clarification came after his address at the West Africa Association of Public Accounts Committees (WAAPAC) conference in Abuja, where he warned that unchecked debt weakens economic stability and endangers future generations.
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In a statement released by his media adviser, Musa Krishi, Abbas said his position was that borrowing, when prudently managed, can drive growth and development. He noted that reckless loans tied to consumption or corruption should be rejected, while resources raised through debt must be channelled into projects that bring real benefits to citizens.
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LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT
Abbas stressed that his view aligns with President Bola Tinubu’s Renewed Hope Agenda, which focuses on fiscal discipline, prudent resource use, and investments in infrastructure, education, clean energy, and social welfare.
The statement also pointed to Tinubu’s recent assurance that Nigeria has already surpassed its 2025 revenue target and would end reliance on borrowing to finance government operations.
During the WAAPAC event, Abbas called for stronger oversight, transparent borrowing practices, and a commitment to ensure that every loan translates into measurable social and economic progress for Nigerians.
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