It’s not how much we borrow, but what we build — Tinubu

*Adds Lagos-Calabar, Sokoto-Badagry highways, power, ports’re drivers of $1trn economy *NLC demands justification for $20. 5bn, €1. 45bn loans By Johnbosco Agbakwuru and Olayinka Ajayi ABUJA — President Bola Tinubu has defended his administration’s external borrowing plans, saying Lagos-Calabar Coastal Highway, Sokoto-Badagry Superhighway, Trans-Sahara Superhighway, electricity grid upgrades and modernisation of key commercial ports in Lagos among others would strengthen Nigeria’s productive capacity. Read Also: Tinubu lands in Saudi Arabia for Umrah According to him, the loans will finance critical infrastructure and investments capable of expanding economic opportunities for future generations. The President’s position came as the Nigeria Labour Congress, NLC, faulted his request to the National Assembly for approval to obtain fresh external loans of $20. 5 billion and €1.

45 billion, questioning the justification for continued borrowing despite claims of increased government revenue. In a statement titled “From Reforms to Delivery: Our Infrastructure Investment and Growth Strategy,” Tinubu said the focus should be on the economic value generated by borrowed funds rather than the amount borrowed. “The real question is not how much we borrow, but what we build, what value we create and what future we leave behind,” he said. The President identified the Lagos-Calabar Coastal Highway, Sokoto-Badagry Superhighway, Trans-Sahara Superhighway, electricity grid upgrades and modernisation of key commercial ports in Lagos as major projects expected to strengthen Nigeria’s productive capacity. He said investments in healthcare, education and vocational training will complement the infrastructure projects by connecting economic regions, reducing logistics costs, unlocking…