The Ministry of Finance says President Bola Tinubu’s $21.5bn borrowing request will not automatically raise Nigeria’s debt burden.
In a statement, the ministry explained that the loan is part of a 2024–2026 borrowing plan meant to support infrastructure, transport, energy, and agriculture. It added that most of the funds will come from concessional lenders like the World Bank and AfDB with favourable repayment terms.
The ministry said the borrowing strategy is guided by long-term planning and tied to growth-focused projects.
