Labour Party's Agbese Backs Tinubu's $21.7bn Loan Plan

Hon. Philip Agbese (Rep, Ado/Ogbadigbo/Okpokwu), a federal lawmaker representing the Ado/Okpokwu/Ogbadibo Federal Constituency and the Labour Party leader in the state, has expressed support for President Tinubu's $21.7 billion supplementary external borrowing plan. Agbese argues that the proposed financing is justified by visible progress in infrastructure and security.

He highlights that over $10 billion is earmarked for transport infrastructure, including projects like the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Super Highway. Agbese describes this borrowing as an investment in national assets that will yield returns exceeding the loan costs.

He also points to significant operational progress in security, including the neutralization of terrorists and the rescue of abducted citizens. Agbese notes that a substantial portion of the borrowing will come from multilateral and bilateral partners on concessional terms, ensuring that benefits extend beyond the federal level.

He urges fellow legislators to consider the national interest and the needs of their constituents for better infrastructure and security.