Speaker Clarifies Stance on Borrowing, Calls for Transparency and Development-Oriented Debt Use

Update: Speaker Clarifies Stance on Borrowing, Calls for Transparency and Development-Oriented Debt Use

The Speaker of the House of Representatives has clarified his recent comments on Nigeria’s debt profile, stressing that his position was not against borrowing but rather in favor of stronger oversight, transparency, and accountability in the management of public loans.

In a statement issued on Sunday, the Speaker emphasized that borrowing, when properly managed, remains a legitimate tool for financing development in emerging economies like Nigeria. However, he cautioned that debt must be tied directly to tangible outcomes that improve citizens’ lives.

> “Our concern is not with the act of borrowing itself, but with how those funds are utilized. Borrowing should translate into real development — in roads, schools, hospitals, innovation, and infrastructure that will drive long-term growth,” the Speaker said.

He further noted that without transparency and strict accountability measures, the risk of mismanagement remains high, leaving future generations to bear the burden of debt without reaping its benefits.

The Speaker urged the executive arm to prioritize projects with high social and economic impact and ensure public access to information on how borrowed funds are deployed.

Observers say the clarification is timely, especially amid Nigeria’s rising debt concerns and recent debates on government’s fiscal direction, as the country continues to balance its revenue drive with its bor

rowing needs.