President Bola Ahmed Tinubu has defended his administration’s reliance on foreign loans, saying sustained investment in infrastructure is necessary to grow Nigeria’s economy to $1 trillion.
Gatekeepers News reports that the Tinubu made the remarks in an essay titled From Reforms to Delivery: Our Infrastructure Investment and Growth Strategy, published on Thursday by his spokesperson, Bayo Onanuga.
The President said Nigeria needed modern highways, reliable electricity, efficient ports and improved transport networks to boost productivity, attract investment and expand economic activities.
“We are not simply building highways. We are opening economic corridors, connecting markets, unlocking industries and reshaping Nigeria’s economic geography,” he said.
The projects identified by Tinubu include the Lagos-Calabar Coastal Highway, Sokoto-Badagry Superhighway, Trans-Sahara Superhighway, electricity grid upgrades and the modernisation of major commercial ports in Lagos.
According to the President, the Lagos-Calabar Coastal Highway is projected to create about 100,000 direct jobs and more than 150,000 indirect jobs. He added that the project could reduce logistics costs along its route by 15 to 20 per cent and contribute up to two per cent to Nigeria’s Gross Domestic Product (GDP).
Tinubu also cited economic indicators, including 4.43 per cent GDP growth in the second quarter of 2026 and a decline in headline inflation to 14.63 per cent in September, compared with 20.98 per cent in September 2025.
Defending his administration’s economic reforms, which include the removal of petrol subsidies and exchange rate unification, the President said the measures were necessary to strengthen public finances and improve investor confidence.
“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.
He maintained that the government would focus on completing infrastructure projects, creating jobs and improving living standards, rather than measuring its performance by the amount of financing secured.
“Securing financing is not the achievement. Completing the project, delivering value and improving the lives of Nigerians is the achievement,” Tinubu said.
