Stop judging government borrowing without considering its purpose, Finance Minister says 

Professor Taiwo Oyedele, the Minister of Finance and Coordinator of the Economy, has come to the defense of the Federal Government’s borrowing strategy, emphasizing that debt should be viewed as a deliberate financial tool aimed at promoting economic growth, not as a sign of failure.

During the 2026 Annual Conference of the Capital Market Academics of Nigeria (CMAN), Oyedele pointed out that the focus shouldn’t be on the total amount a country borrows, but rather on how the borrowed money is spent.

“In our public discussions, debt tends to be labeled a moral issue instead of a financial resource,” he remarked.

“The crucial questions are not about the borrowing amount alone. They include what the debt is for, the costs associated, the expected returns, and the terms of repayment.”

The minister asserted that governments should have no qualms about borrowing when the finances are directed toward productive projects that promise greater returns.

He criticised analysts who condemn government borrowing without considering how the money is spent.

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“So when analysts go on television and join the populist view to accuse the government of borrowing, you are doing a disservice,” Oyedele said.

He also urged Nigerian entrepreneurs to embrace external investors instead of insisting on owning 100 per cent of their businesses.

“The desire to own 100 per cent of a small business will always lose in absolute terms to owning a meaningful share of a large one,” he said.

Oyedele further proposed the creation of a dedicated Commercial Dispute Resolution Tribunal to speed up business-related cases, saying lengthy court processes discourage investment.

He added that Nigeria must strengthen its institutions, maintain policy consistency and improve investor confidence to attract more capital.