Speaker of the House of Representatives, Abbas Tajudeen, has dismissed claims that he condemned government borrowing, clarifying that his comments were misinterpreted
The controversy followed his remarks at the West Africa Association of Public Accounts Committees conference, where he raised concerns about Nigeria’s rising debt profile.
Tajudeen highlighted that by the first quarter of 2025, the country’s total public debt had reached N149.39 trillion (about $97 billion), with a debt-to-GDP ratio of 52 percent—well above the 40 percent legal threshold. He described the situation as a “structural crisis” requiring urgent reforms in borrowing practices and stronger parliamentary oversight.
In response to media reports, his Special Adviser on New Media, Jowosimi Enitan, issued a statement clarifying that the Speaker did not reject borrowing outright. Instead, he emphasized the need for responsible debt management.
“Public debt, if managed prudently, can be a tool for growth and prosperity,” Enitan explained, stressing that Tajudeen’s position was about ensuring transparency, accountability, and that borrowed funds are channeled into tangible development projects.
He further noted that President Bola Tinubu’s administration is making efforts to reduce dependence on loans by boosting non-oil revenue streams, pointing out that Nigeria has already achieved its 2025 revenue target without additional borrowing.
“The Speaker’s call was not against borrowing, but for stronger oversight to make sure every naira borrowed delivers value to Nigerians. This is about safeguarding the nation’s financial future, not pandering to mischief-makers,” Enitan added.
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Aren’t you part of the people plunging us into debt? Reduce your bogus and nonsense bonuses