Tinubu défend les plans d'emprunt, affirme que les investissements élargiront les opportunités pour les générations futures

President Bola Tinubu has issued a formal defense of his administration’s recent borrowing strategies, arguing that new loans secured from international institutions and banks will ultimately expand economic opportunities for future generations. In response to sharp criticism from opposition leaders regarding these debts, the Nigerian head of state released an essay titled “From reforms to delivery: Our infrastructure investment and growth strategy,” scheduled for publication on domestic news platforms. Tinubu contended that the central issue is not the volume of debt incurred, but rather the tangible assets constructed and the value created by such expenditures. He stated that the true measure of fiscal policy lies in what is built and the legacy left behind. The president outlined several flagship infrastructure initiatives intended to bolster Nigeria’s productive capacity. These include the Lagos-Calabar Coastal Highway, the Sokoto-Badagry Superhighway, the Trans-Sahara Superhighway, comprehensive upgrades to the national electricity grid, and the modernization of major commercial ports in Lagos. According to Tinubu, these projects, combined with investments in healthcare, education, and vocational training, aim to link disparate economic regions. The administration believes these moves will lower logistics expenses, unlock dormant agricultural and industrial potential, and draw in private sector capital. Specific projections were provided for the Lagos-Calabar Coastal Highway. The project is expected to reduce logistics costs along its route by fifteen to twenty percent. Furthermore, it could contribute up to two percent to the nation’s gross domestic product through expanded trade, tourism, and industrial activity. Employment figures associated with this highway are substantial, with estimates suggesting approximately 100,000 direct jobs in construction and engineering. Additionally, more than 150,000 indirect jobs are anticipated in sectors such as logistics and materials supply. Tinubu emphasized that these efforts go beyond simple road building, describing them as the creation of economic corridors that reshape the country’s geographic and commercial landscape. The administration maintains that achieving its goal of a one-trillion-dollar economy by 2030 requires sustained infrastructure investment. Tinubu argued that current infrastructure was designed for an economy significantly smaller than the target scale. He noted that improving economic indicators and rising international investor confidence are currently creating favorable conditions for attracting long-term capital. The president credited economic reforms introduced in May 2023 with restoring macroeconomic stability and strengthening public finances. These measures included the removal of fuel subsidies, the unification of exchange rates, tax reforms, and coordinated actions to combat inflation. Recent statistical data cited in the essay supports the administration’s narrative of improvement. Real gross domestic product growth reportedly reached 4.43 percent in the second quarter of 2026. Headline inflation declined to 14.63 percent in September, down from 20.98 percent during the same period the previous year. Gross external reserves stood at 55.1 billion dollars as of October 9, 2026, which includes roughly 46 billion dollars in net reserves. The tax-to-gross-domestic-product ratio has also risen to 12.5 percent, up from seven percent previously. Tinubu described the post-2023 decision-making process as difficult but necessary. He claimed that these structural changes have lowered the country’s cost of borrowing and drastically reduced the national risk premium. Positive assessments from international credit rating agencies were cited as further evidence of enhanced confidence in the Nigerian economy. The president asserted that these gains have fortified the nation’s capacity to finance projects essential for long-term growth. He stressed that the path to a one-trillion-dollar economy relies on sustained investment, higher productivity, and industrialization, rather than mere political declaration. The essay concludes by linking these fiscal and infrastructural strategies directly to the broader objective of delivering tangible benefits to the population.