Hot SourceThe Speaker of the House of Representatives, Abbas Tajudeen, has reaffirmed the support of the House for President Bola Tinubu’s borrowing strategy, describing it as essential for economic growth and poverty reduction.
Abbas made this known on Monday in Abuja at the 8th Annual African Network of Parliamentary Budget Offices, AN-PBO, Conference.
He dismissed reports that the House opposed the borrowing plan, insisting that such claims were “mischievous and misleading.”
Abbas explained that the National Assembly recognises the need for responsible borrowing to fund critical infrastructure, stimulate growth, and protect vulnerable populations.
According to him, Tinubu’s administration is directing borrowed funds towards transformative projects in power, transport, and agriculture, rather than for consumption.
The Speaker stressed that the borrowing strategy was being guided by prudence, transparency, and global best practices under Nigeria’s Medium-Term Debt Strategy.
He added that the National Assembly was also strengthening oversight mechanisms to ensure sustainability.
Abbas highlighted the establishment of the National Assembly Budget and Research Office, NABRO, as a major reform to provide independent analysis on borrowing, debt sustainability, and fiscal policy.
