President Bola Ahmed Tinubu has explained his administration’s stance on borrowing, arguing that taking out loans isn’t wrong if there’s a solid plan for repayment.
In a discussion about the country’s economic path, Tinubu pointed out that borrowing shouldn’t carry a negative connotation, highlighting that numerous economies depend on debt for their growth and development.
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He stated, “If we need to borrow money, we will. Borrowing isn’t like having leprosy,” while emphasizing the importance of discipline and productivity.
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The president recognized that the real issue isn’t borrowing, but rather how effectively the funds are used and ensuring they can be repaid.
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He mentioned that diligence, strategic planning, and necessary economic reforms are crucial to avoid making debt a burden.
