{"id":5809,"date":"2026-10-30T18:38:37","date_gmt":"2026-10-30T18:38:37","guid":{"rendered":"https:\/\/consumerconnectng.com\/?p=5809"},"modified":"2026-10-30T19:46:19","modified_gmt":"2026-10-30T19:46:19","slug":"tinubu-justifies-borrowings-assures-investments-will-expand-opportunities-for-future-generations","status":"publish","type":"post","link":"https:\/\/consumerconnectng.com\/?p=5809","title":{"rendered":"Tinubu justifies borrowings, assures investments will expand opportunities for future generations"},"content":{"rendered":"<p>*<strong><em>President Bola Ahmed Tinubu particularly identifies major projects, including the Lagos-Calabar Coastal Highway, Sokoto-Badagry Highway, Trans-Sahara Highway, electricity grid upgrades, and the modernisation of key commercial ports in Lagos, among others, that are expected to strengthen Nigeria\u2019s productive capacity<\/em><\/strong><\/p>\n<p>Alexander Davis | ConsumerConnect<\/p>\n<p>Sequel to his administration&#8217;s further borrowings, President Bola Ahmed Tinubu has responded to criticism from especially the opposition leaders over new loans the country has accessed from international institutions and banks in recent times.<\/p>\n<p>In an essay titled, \u201cFrom reforms to delivery: Our infrastructure investment and growth strategy\u201d, to be published on Nigerian news platforms, President Tinubu wrote: \u201cThe real question is not how much we borrow, but what we build, what value we create and what future we leave behind.\u201d<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"XMbydPseVc\"><p><a href=\"https:\/\/consumerconnectng.com\/?p=5747\">ONSA, NCC, NITDA, others advocate collaboration, cyber resilience over AI-generated attacks<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"\u201cONSA, NCC, NITDA, others advocate collaboration, cyber resilience over AI-generated attacks\u201d \u2014 Consumer Experience Is A Top Priority\" src=\"https:\/\/consumerconnectng.com\/?p=5747&amp;embed=true#?secret=1DbTnM2w4B#?secret=XMbydPseVc\" data-secret=\"XMbydPseVc\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>Tinubu identified the Lagos-Calabar Coastal Highway, Sokoto-Badagry Highway, Trans-Sahara Highway, electricity grid upgrades, and the modernisation of key commercial ports in Lagos as major projects expected to strengthen Nigeria\u2019s productive capacity.<\/p>\n<p>He said the projects, alongside investments in healthcare, education and vocational training, would connect economic regions, reduce logistics costs, unlock agricultural and industrial potential and attract private investment.<\/p>\n<p>It is noted that the Lagos-Calabar Coastal Highway is expected to cut logistics costs along its corridor by 15 to 20 per cent.<\/p>\n<p>The Presidency also said the road infrastructure could add up to two percent to Nigeria\u2019s Gross Domestic Product (GDP) through expanded trade, tourism, and industrial activity.<\/p>\n<p>The project is also projected to generate about 100,000 direct jobs in construction and engineering, alongside more than 150,000 indirect jobs in logistics, materials and related services.<\/p>\n<p>Mr. Bayo Onanuga, Special Adviser to the President&nbsp; on Information and Strategy, Thursday, October 29, 2026, suited President Tinubu said: \u201cWe are not simply building highways.<\/p>\n<p>&#8220;We are opening economic corridors, connecting markets, unlocking industries and reshaping Nigeria\u2019s economic geography.&#8221;<\/p>\n<p>The Nigerian leader restated his administration\u2019s ambition to build a $1 trillion economy by 2030, saying this would require sustained infrastructure investment to support higher productivity, industrialisation and trade.<\/p>\n<p>The President noted: \u201cWe cannot build a USD 1 trillion economy with infrastructure designed for an economy a fraction of that size.&#8221;<\/p>\n<p>In the discourse, the President also wrote that improving economic indicators and growing international investor confidence are creating opportunities for Nigeria to attract long-term investment and expand critical infrastructure.<\/p>\n<p>Tinubu said the economic reforms his administration introduced May 2023 had&nbsp; helped to restore macroeconomic stability, strengthen public finances, and improve the country\u2019s standing in international financial markets.<\/p>\n<p>According to him, a $1 trillion economy will not emerge by declaration alone, but must be built through sustained investment, higher productivity, industrialisation, and trade.<\/p>\n<p>Infrastructure development will be critical to achieving the target by 2030, said<\/p>\n<p>In the article titled: \u201cFrom reforms to delivery: Our infrastructure investment and growth strategy&#8221;, President Tinubu said real Gross Domestic Product growth reached 4.43 percent in the second quarter of 2026, while headline inflation fell to 14.63 percent in September from 20.98 percent a year earlier.<\/p>\n<p>He also affirmed the&nbsp; gross external reserves rose to $55.1 billion as of October 9, 2026, including about $46 billion in net reserves, while the tax-to-GDP ratio increased to 12.5 percent from seven percent.<\/p>\n<p>Real Gross Domestic Product growth reached 4.43 percent in the second quarter of 2026, while headline inflation dropped to 14.63 percent September from 20.98 percent a year earlier, stated the President.<\/p>\n<p>Tinubu attributed the improvements to measures including petrol subsidy removal, exchange rate unification, tax reforms and coordinated efforts to tackle inflation.<\/p>\n<p>He declared: \u201cThe decisions taken since 2023 were difficult but necessary,&#8221; referring to the reforms.<\/p>\n<p>Tinubu said the gains had strengthened Nigeria\u2019s ability to attract investment and finance projects that support long-term economic growth.<\/p>\n<p>Said he: \u201cConfidence has a price; our cost of borrowing is going down, and the country risk premium has drastically decreased.&#8221;<\/p>\n<p>The President as well cited positive assessments by international credit rating agencies as evidence of improved confidence in the economy.<\/p>\n<p>Tinubu averred: \u201cThese are not political endorsements; they are independent assessments by global rating agencies, index providers, regulators and investors, recognising stronger external reserves, improved macroeconomic management and greater financial credibility.&#8221;<\/p>\n<p>According to the President, the improved standing could help Nigeria attract more institutional investors, secure longer-term financing and reduce borrowing costs.<\/p>\n<p>The administration is shifting public borrowing away from financing short-term fiscal pressures to investments that would generate economic returns, create jobs and expand opportunities for future generations, stated the President.<\/p>\n<p>He further said the government was pursuing longer-term financing arrangements to match the lifespan of infrastructure assets, reduce refinancing pressures and secure more competitive funding for productive investments.<\/p>\n<p>President Tinubu said Nigeria must convert renewed international confidence into capital expenditure, completed infrastructure and lasting economic benefits for citizens.<\/p>\n<p><strong>5 priorities for next phase of FEC\u2019s economic strategy<\/strong><\/p>\n<p>President Tinubu equally identified five priorities for the next phase of the Federal Executive Council\u2019s economic strategy: food affordability and energy price stability; budget harmonisation and fiscal discipline; completion of high-impact projects and investment in critical infrastructure; an improved economic policy framework and regulatory efficiency; and targeted household support alongside investment in human development.<\/p>\n<p>The President stressed that the success of the current administration&#8217;s economic schemes would be measured by completed projects, increased investment, employment generation and improved living standards.<\/p>\n<p>He stated: \u201cSecuring financing is not the achievement. Completing the project, delivering value and improving the lives of Nigerians is the achievement.&#8221;<\/p>\n<p>The country&#8217;s economic ambition must be supported by responsible borrowing and investments that create lasting opportunities for future generations, Tinubu declared.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>*President Bola Ahmed Tinubu particularly identifies major projects, including the Lagos-Calabar Coastal Highway, Sokoto-Badagry Highway, Trans-Sahara Highway, electricity grid upgrades, and the modernisation of key&hellip;<\/p>\n","protected":false},"author":2,"featured_media":5350,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"_FSMCFIC_featured_image_caption":"President Bola Ahmed Tinubu, GCFR","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","_customify_content_layout":"","_customify_sidebar":"","_customify_page_header_display":"default","_customify_disable_header":"","_customify_disable_header_top":"","_customify_disable_header_main":"","_customify_disable_header_bottom":"","_customify_disable_page_title":"","_customify_disable_content_vertical_padding":"","_customify_disable_footer_top":"","_customify_disable_footer_main":"","_customify_disable_footer_bottom":"","_customify_breadcrumb_display":"","_customify_header_transparent_display":"default","footnotes":""},"categories":[20,3,8],"tags":[],"class_list":["post-5809","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-highlights","category-infoeducation","category-regulators"],"featured_image_urls":{"full":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/10\/Tinubu-in-Office-in-Hausa-Cap-cc.png",672,400,false],"thumbnail":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/10\/Tinubu-in-Office-in-Hausa-Cap-cc-150x150.png",150,150,true],"medium":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/10\/Tinubu-in-Office-in-Hausa-Cap-cc-300x179.png",300,179,true],"medium_large":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/10\/Tinubu-in-Office-in-Hausa-Cap-cc.png",672,400,false],"large":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/10\/Tinubu-in-Office-in-Hausa-Cap-cc.png",672,400,false],"1536x1536":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/10\/Tinubu-in-Office-in-Hausa-Cap-cc.png",672,400,false],"2048x2048":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/10\/Tinubu-in-Office-in-Hausa-Cap-cc.png",672,400,false]},"author_info":{"info":["ConsumerConnect"]},"category_info":"<a href=\"https:\/\/consumerconnectng.com\/?cat=20\" rel=\"category\">Highlights<\/a> <a href=\"https:\/\/consumerconnectng.com\/?cat=3\" rel=\"category\">InfoEducation<\/a> <a href=\"https:\/\/consumerconnectng.com\/?cat=8\" rel=\"category\">Regulators<\/a>","tag_info":"Regulators","comment_count":"0","_links":{"self":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts\/5809","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5809"}],"version-history":[{"count":2,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts\/5809\/revisions"}],"predecessor-version":[{"id":5821,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts\/5809\/revisions\/5821"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/media\/5350"}],"wp:attachment":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5809"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5809"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5809"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}