Speaker Tajudeen Abbas Clarifies Position On National Borrowing Amidst Misinformation
By Oludare Joshua
In light of recent erroneous claims circulating in social media, Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, Ph.D., GCON, has unequivocally affirmed that he has not condemned Nigeria’s borrowing practices. These misrepresentations have been described as “fake news” and a deliberate distortion by his office.
During a keynote address at the 11th Annual Conference and General Assembly of the West Africa Association of Public Accounts Committees (WAAPAC), which featured the Speaker’s representation by PDP chieftain, MHR Babatunde Salam, key insights were shared regarding the management of public debt in Nigeria. The Speaker’s stance emphasizes the importance of prudent borrowing as a mechanism for fostering growth and financial stability.
“Public debt, if managed prudently, can be a tool for growth and prosperity,” MHR Salam stated, echoing the Speaker’s nuanced understanding of the subject. He elaborated that the legislature’s primary responsibility is to ensure that every naira borrowed translates into tangible benefits for the Nigerian populace.
Highlighting ongoing efforts by President Bola Ahmed Tinubu’s administration to bolster non-oil revenue, the Speaker’s representative noted that these initiatives are part of a broader strategy to reduce reliance on borrowing. “For the first time in decades, Nigeria has met its 2025 revenue target ahead of schedule, without dependence on borrowing,” Salam reported, reiterating that responsible fiscal management is crucial for Nigeria’s economic sovereignty.
The Speaker advocates for enhanced oversight, transparency, and accountability in public debt management, asserting that it is essential for ensuring that borrowed funds are allocated toward critical developmental projects such as infrastructure, education, and healthcare.
“Let it be known: oversight of public debt is a constitutional duty and a moral responsibility of parliament. This is about safeguarding Nigeria’s financial future,” he emphasized, countering any narrative that seeks to undermine the importance of responsible borrowing.
The Speaker’s office calls for an end to the spread of misinformation and urges the opposition to seek constructive avenues rather than engaging in political theatrics that distract from pressing national issues.
As the Speaker’s message resonates across the political landscape, his team reassures the public of a commitment to sustainable development and responsible economic practices.
In closing, the Speaker’s office reminds citizens that fake news will not prevail and that adherence to facts and accountability in governance remains paramount for Nigeria’s progress.
For further information, please contact:
Jowosimi Olabamiji Enitan
SA New Media to the Speaker
