Speaker Abbas Makes U-turn, Says He Never Condemned Nigeria’s Borrowing

Speaker of the House of Representatives, Abbas Tajudeen, has clarified his position on Nigeria’s debt profile, insisting he never condemned government borrowing.

Abbas had criticised the country’s reliance on loans during his remarks at the 11th Annual Conference and General Assembly of the West Africa Association of Public Accounts Committees (WAAPAC).

While the Speaker had expressed concern that Nigeria’s total public debt had reached N149.39 trillion, equivalent to about $97 billion, as of the first quarter of 2025, he said his comments were misrepresented.

In a statement issued by his Special Adviser on New Media, Jowosimi Enitan, Abbas maintained that he supports borrowing when it is responsibly managed and effectively overseen.

“For the record, Speaker Abbas Tajudeen, PhD, GCON, never condemned borrowing,” Enitan said. “Public debt, if managed prudently, can be a tool for growth and prosperity. The legislature’s role is to ensure that every naira borrowed delivers tangible value to Nigerians.”

The statement further noted that President Bola Tinubu’s administration is already making efforts to reduce reliance on borrowing through a stronger non-oil revenue drive, pointing to Nigeria meeting its 2025 revenue target ahead of schedule as proof of progress.

According to Enitan, Abbas’s call was not against borrowing itself but for greater transparency, accountability, and oversight to ensure that loans translate into meaningful development such as infrastructure, schools, hospitals, and innovation.

“Let it be known: oversight of public debt is a constitutional duty and a moral responsibility of parliament. This is about safeguarding Nigeria’s financial future, not playing to the gallery of mischief-makers,” the statement added.