Deji Elumoye in Abuja
President Bola Tinubu has formally responded to criticism, particularly from opposition leaders, over new loans Nigeria is accessing from worldwide establishments and banks.
In an essay titled ‘From reforms to delivery: Our infrastructure investment and growth strategy,’ to be printed on Nigerian information platforms, the president wrote: “The real question is not how much we borrow, but what we build, what value we create and what future we leave behind.”
Tinubu recognized the Lagos-Calabar Coastal Highway, Sokoto-Badagry Superhighway, Trans-Sahara Superhighway, electrical energy grid upgrades and the modernisation of key business ports in Lagos as main initiatives anticipated to strengthen Nigeria’s productive capability.
The Lagos-Calabar Coastal Highway is predicted to chop logistics prices alongside its hall by 15 to twenty per cent. It may add as much as two per cent to Nigeria’s GDP by expanded commerce, tourism and industrial exercise.
The mission can also be projected to generate about 100,000 direct jobs in building and engineering, alongside greater than 150,000 oblique jobs in logistics, supplies and associated providers.
According to him, the initiatives, alongside investments in healthcare, training and vocational coaching, would join financial areas, scale back logistics prices, unlock agricultural and industrial potential and appeal to non-public funding.
“We are not simply building highways. We are opening economic corridors, connecting markets, unlocking industries and reshaping Nigeria’s economic geography,” the president disclosed.
He stated the administration’s ambition to construct a $1 trillion financial system by 2030 would require sustained infrastructure funding to assist larger productiveness, industrialisation and commerce.
“We cannot build a USD 1 trillion economy with infrastructure designed for an economy a fraction of that size,” Tinubu stated.
He wrote that enhancing financial indicators and rising worldwide investor confidence are creating alternatives for Nigeria to draw long-term funding and develop essential infrastructure.
The president stated the financial reforms his administration launched in May 2023 helped restore macroeconomic stability, strengthen public funds and enhance the nation’s standing in worldwide monetary markets.
He stated a $1 trillion financial system wouldn’t emerge by declaration alone however should be constructed by sustained funding, larger productiveness, industrialisation and commerce, stressing that infrastructure growth could be essential to reaching the goal by 2030.
In an article titled ‘From reforms to delivery: Our infrastructure investment and growth strategy,’ Tinubu stated actual Gross Domestic Product (GDP) development reached 4.43 per cent within the second quarter of 2026, whereas headline inflation fell to 14.63 per cent in September from 20.98 per cent a 12 months earlier.
He additionally stated gross exterior reserves rose to $55.1 billion as of October 9, 2026, together with about $46 billion in web reserves, whereas the tax-to-GDP ratio elevated to 12.5 per cent from seven per cent.
Tinubu stated actual GDP development reached 4.43 per cent within the second quarter of 2026, whereas headline inflation fell to 14.63 per cent in September from 20.98 per cent a 12 months earlier.
The president attributed the enhancements to measures together with petrol subsidy elimination, change fee unification, tax reforms and coordinated efforts to deal with inflation.
“The decisions taken since 2023 were difficult but necessary,” he stated, referring to the reforms.
Tinubu stated the good points have strengthened Nigeria’s capacity to draw funding and finance initiatives that assist long-term financial development.
“Confidence has a price; our cost of borrowing is going down, and the country risk premium has drastically decreased,” he stated.
The president cited constructive assessments by worldwide credit standing companies as proof of improved confidence within the financial system.
“These 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,” Tinubu stated.
According to the president, the improved standing may assist Nigeria appeal to extra institutional buyers, safe longer-term financing and scale back borrowing prices.
He stated the administration was shifting public borrowing away from financing short-term fiscal pressures in the direction of investments that may generate financial returns, create jobs and develop alternatives for future generations.
Tinubu stated the federal government was additionally pursuing longer-term financing preparations to match the lifespan of infrastructure property, scale back refinancing pressures and safe extra aggressive funding for productive investments.
The president stated Nigeria should convert renewed worldwide confidence into capital expenditure, accomplished infrastructure and lasting financial advantages for residents.
He recognized 5 priorities for the subsequent section of the Federal Executive Council’s financial technique: meals affordability and vitality value stability; finances harmonisation and monetary self-discipline; completion of high-impact initiatives and funding in essential infrastructure; an improved financial coverage framework and regulatory effectivity; and focused family assist alongside funding in human growth.
Tinubu harassed that the success of the present administration’s financial schemes could be measured by accomplished initiatives, elevated funding, employment era and improved dwelling requirements.
“Securing financing is not the achievement. Completing the project, delivering value and improving the lives of Nigerians is the achievement,” he stated.
The president added that the nation’s financial ambition should be supported by accountable borrowing and investments that create lasting alternatives for future generations.
