Oyedele Defends Government Borrowing for Economic Growth

Taiwo Oyedele, the Minister of Finance, Budget and National Planning, addressed critics of government borrowing during a speech in Abuja at the 2nd Biennial Conference of Capital Market Academics Nigeria. He argued that borrowing should not be viewed negatively, as it can facilitate economic growth when used to finance productive assets that yield returns above the cost of capital.

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 stated that debt is often mischaracterized in public discourse as a moral failure rather than a financial tool.

He also criticized the preference for sole ownership among Nigerian entrepreneurs, suggesting that shared ownership structures could enhance business scalability. Oyedele called for a stronger financial culture in Nigeria to improve investor confidence and reduce the time taken to resolve business disputes, which currently averages 15 years in the court system.