Tinubu Defends Infrastructure Loans to Boost Nigeria's Economy

President Bola Tinubu has addressed critics of his administration's borrowing from international institutions, stating that the focus should be on the value created from these investments. In an essay titled “From reforms to delivery: Our infrastructure investment and growth strategy,” he outlined significant projects such as the Lagos-Calabar Coastal Highway, Sokoto-Badagry Superhighway, and Trans-Sahara Superhighway.

These initiatives are expected to reduce logistics costs, generate approximately 100,000 direct jobs, and contribute up to two percent to Nigeria's GDP. Tinubu emphasized that these infrastructure developments are essential for connecting economic regions, unlocking potential, and attracting private investment.

He reiterated the goal of building a $1 trillion economy by 2030, which requires sustained infrastructure investment. The president reported a real GDP growth of 4.43 percent in the second quarter of 2026, a decline in inflation to 14.63 percent, and an increase in gross external reserves to $55.1 billion as of October 9, 2026.