Philip Agbese Defends Nigeria's $21.7 Billion Borrowing Plan

Hon. Philip Agbese (Rep, Ado/Ogbadigbo/Okpokwu), the Labour Party leader in Benue State and member representing Ado/Okpokwu/Ogbadibo Federal Constituency, has defended the Federal Government’s proposed $21.7 billion supplementary external borrowing plan. He argues that the borrowing is justified by the Tinubu administration’s investments in infrastructure and improvements in the security sector.

Agbese describes the borrowing as strategic financing for productive national assets, not for consumption. He highlights allocations exceeding $10 billion for transport infrastructure, including major highways and rail corridors, and emphasizes the importance of funding for defense and security.

Agbese points to the administration's achievements in project delivery, including the Abuja-Kaduna-Zaria-Kano highway and the Lagos-Calabar Coastal Highway. He asserts that the borrowing will benefit states and the Federal Capital Territory, ensuring that resources are distributed across the federation.

Agbese concludes that the borrowing is an investment in Nigeria's future, aimed at enhancing national capacity after years of underinvestment.