The Special Adviser to President Bola Ahmed Tinubu on Information and Strategy, Bayo Onanuga, has defended the Federal Government’s growing borrowing profile, insisting that Nigeria still has the capacity to take more loans compared to countries such as Egypt, South Africa and Senegal. Onanuga made the remarks in a post on X in response to criticisms of Nigeria’s rising debt burden under the Tinubu administration.

Ideally, a country should only take a loan if the net effect on its economy is to improve its standing on as many measures as possible.

The Special Adviser to President Bola Ahmed Tinubu on Information and Strategy, Bayo Onanuga, has defended the Federal Government’s growing borrowing profile, insisting that…