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The Ministry of Finance has provided clarification to the borrowing request of President Bola Tinubu. In a statement signed by Mohammed Manga, director of information and public relations, the ministry explained that the borrowing plan is part of a debt management framework and does not signify an automatic increase in the country’s debt burden.
early report shows that Tinubu, on May 27, 2025, asked lawmakers to approve a new external borrowing plan totalling $21.5 billion, along with a request to issue federal government bonds worth N757.9 billion to settle outstanding pension liabilities under the Contributory Pension Scheme (CPS).
In the statement, the finance ministry said the borrowing request is designed to introduce a more structured, forward-looking approach to managing public debt and replacing past practices of reactive borrowing.
Manga said: “The Debt Rolling Plan is not an automatic green light for increasing the debt burden. It is a strategic framework that guides sustainable and purposeful borrowing.” He added that the strategy aims to enhance Nigeria’s ability to implement sound fiscal policies and attract development financing while maintaining debt sustainability.
Source: legit.ng
