Once again, the Federal Government of Nigeria, under the leadership of President Bola Ahmed Tinubu, is back at the borrowing table — this time requesting an additional $347 million as part of the 2025–2026 borrowing plan.
The House of Representatives has approved the request, with funds reportedly earmarked for the controversial Lagos-Calabar Coastal Highway and a telecommunications expansion project.
But the question on many Nigerians’ minds remains the same:
How long will this borrowing spree continue?
And more importantly — who is really benefiting?
A Pattern or a Priority?
This new loan adds to a growing list of borrowings made under the guise of infrastructure and national development. While the Lagos-Calabar Highway is a long-awaited project, its cost and transparency have been widely criticized. Likewise, the telecommunications expansion sounds promising on paper, but many Nigerians are asking:
- Where is the accountability?
- Why is there little visible impact from previous loans?
- Why does every “development” plan seem to come with a fresh request for international debt?
Playing with People’s Minds?
It’s starting to look like a pattern — grand promises, huge loans, and minimal results. At a time when ordinary citizens are grappling with skyrocketing food prices, unstable electricity, and dwindling Naira value, the government seems more focused on borrowing than solving immediate issues.
Some citizens feel these moves are less about national interest and more about political optics — a game of numbers that does little to ease the suffering of the average Nigerian.
What Next?
Will this new $347 million be different? Or will it be another cycle of spending with little to show? Nigerians deserve transparency, not headlines. They deserve results, not repeated debt.
The people are watching. And the patience is wearing thin.
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