Nigeria's Economy: President Buhari Justifies Government Borrowings | The Conversation | 24-05-

President Muhammadu Buhari justified his administration's high levels of borrowing during a virtual commissioning event, saying they were a conscious decision to combat poverty, foster economic growth, and provide job opportunities for Nigerians.

Buhari emphasised that the borrowed money was used to invest in publicly verifiable infrastructure projects while admitting worries about the debt profile.

Under his direction, Nigeria's infrastructure stock increased from 20% to over 40% of GDP, with the completed bridges and other projects serving as a symbol of the nation's dedication to economic growth.



However, there were growing concerns over the significant increase in borrowing from China, which rose by 209.15% during Buhari's tenure, resulting in a total bilateral loan increase of 219.91% from $1.58 billion in June 2015 to $5.07 billion in December 2022. 

Hosts: Gbenga Aborowa & Rita Omodia

Guests
1. Basil Abia, Research Associate, Kwakol Research, Abuja
2. Muktar Mohammed, Financial Analyst and CEO, Asheer Dynamic Solutions joining us from Lagos

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Nigeria's Economy: President Buhari Justifies His Administration's Borrowings

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