President Bola Tinubu has defended his administration’s external borrowing programme, insisting that the real measure of responsible government is not the size of the loans but the value of what is built with them.

In an essay titled “From Reforms to Delivery: Our Infrastructure Investment and Growth Strategy,” released through his Special Adviser on Information and Strategy, Bayo Onanuga, the President pushed back against critics of the proposed $21.7 billion external loans.

“The real question is not how much we borrow, but what we build, what value we create and what future we leave behind,” Tinubu stated.

He identified the Lagos–Calabar Coastal Highway, Sokoto–Badagry Superhighway, Trans-Sahara Superhighway, electricity grid upgrades and the modernisation of key commercial ports in Lagos as flagship projects anchoring the investment strategy.

According to the President, these projects are expected to connect economic regions, reduce logistics costs, unlock agricultural and industrial potential, and attract private investment.

On the Lagos–Calabar Coastal Highway specifically, Tinubu said it was projected to cut logistics costs along its corridor by 15 to 20 per cent, contribute up to two per cent to Nigeria’s GDP, and generate about 100,000 direct jobs alongside more than 150,000 indirect jobs.

He linked the borrowing strategy to the administration’s target of building a $1 trillion economy by 2030, arguing that such ambition requires commensurate investment in infrastructure.