Nigeria’s Minister of Finance, Taiwo Oyedele, has defended President Bola Ahmed Tinubu’s fresh $21.7 billion external borrowing request, describing the proposed loans as an investment in the country. According to reports from Daily Post Nigeria and Vanguard News, Oyedele made the remarks on Wednesday at the Presidential Villa in Abuja after the Federal Executive Council, FEC, meeting. The Minister’s comments come amid growing criticism of Tinubu’s borrowing plan. In response to Atiku Abubakar’s criticism, Oyedele stated that the proposed loans are not additional debts, but long-term investments in the nation’s infrastructure, human capital, and economic growth. It is unclear if the Nigerian government has provided details on the specific projects these funds will be allocated to. This is a developing story, and more details are expected to emerge as the government provides further information.
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