Oyedele Defends Nigeria's Borrowing Strategy Amid Criticism

Taiwo Oyedele, the Minister of Finance, spoke in Abuja on Tuesday during the 2nd Biennial Conference of the Capital Market Academics of Nigeria, defending the government's borrowing practices against criticism from analysts. He stated that debt should not be viewed solely as a moral failure but as a financial instrument that can facilitate economic growth.

Oyedele highlighted that Nigeria's total public debt rose to ₦159.28 trillion by December 31, 2025, driven by new domestic and external borrowing. He emphasized that borrowing should be assessed based on its purpose, cost, and expected return, rather than being dismissed outright.

Oyedele also criticized the preference for sole ownership among Nigerian entrepreneurs, suggesting that shared ownership structures could enhance business scalability. He proposed establishing dedicated commercial dispute resolution tribunals to improve investor confidence and reduce the time taken to resolve business disputes, which currently averages 15 years in Nigeria's court system.