…says statement not call for outright for debt rejection
By Christiana Ekpa
The Speaker of the House of Representatives, Tajjudeen Abbas, has clarified his statement on Nigeria’s public debt, where he was widely reported to have described it as reckless.
Making the clarification in a statement issued by his Special Adviser on Media, Musa Krishi, the Speaker said his statement did not call for the abolition of debt by the country.
In the statement, titled “Tinubu working assiduously to engender responsible borrowing to address Nigeria’s public debt,” Speaker Abbas said he only advocated for stronger oversight to align with the Renewed Hope Agenda for sustainable growth.
Saying President Bola Ahmed Tinubu, was working assiduously to address Nigeria’s public debt through a non-oil revenue drive, he added that if well utilised, public debt can engender growth and development in any country.
He said Nigeria could leverage responsible borrowing for sustainable development as demonstrated by the Tinubu administration.
He said: “Indeed, public debt, when managed prudently, can be a tool for growth and prosperity. Yet, when left unchecked, it becomes a burden that erodes economic stability and threatens the welfare of future generations.”
The statement added that the Speaker’s remarks were not a call to reject borrowing outright but reflected a responsible approach to debt management that ensures that borrowing translates into real value for Nigerians.
“At the WAAPAC event, the Speaker emphasised the need for stronger oversight, transparent borrowing practices, and a collective resolve to ensure that tangible economic and social returns match every naira borrowed.”
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