Egypt’s total debt is estimated at over $400 billion, with a GDP around $390 billion — debt-to-GDP above 100%.
South Africa’s debt is about $580 billion, with GDP around $420 billion — roughly 135% debt-to-GDP.
Nigeria’s total public debt is about $110 billion, with a GDP around $340 billion — roughly 35% debt-to-GDP.
Yet some people keep shouting that Nigeria is the “loan capital of the world.”
To them:
Loans are Haram.
Education is Haram.
Road construction is Haram.
Power projects are Haram.
Internet expansion is Haram.
Railway modernization is Haram.
Airport upgrades are Haram.
Seaport reforms are Haram.
Dams and agro-processing projects are Haram.
Solar energy expansion is Haram.
But the same people praise countries that borrowed far more aggressively to build infrastructure and grow their economies.
The difference between productive borrowing and reckless borrowing is simple: what the money is used for.
If loans are used to build roads, expand electricity, improve transport, increase internet access, modernize ports, support agriculture, and attract investment, those are long-term national assets.
President Bola Ahmed Tinubu says the focus is on infrastructure that can improve productivity and economic growth across Nigeria.
Criticism is normal in democracy, but opposing every single project simply because of politics helps nobody.
Development is not the enemy.
Underdevelopment is.
Some people are no longer in any coven.
They are simply online 24/7 wailing against everything.
Nigeria’s stock market growth under:
Obasanjo: ₦5.12tr
Yar’Adua: ₦6.03tr
Jonathan: ₦11.42tr
Buhari: ₦28.45tr
Tinubu (Current): ₦145.3tr
All past leaders did ₦50.02tr over 24 years, while BAT has done ₦145.3 trillion in just 3 years.
That’s a massive difference.
Proposed Railway Projects: feasibility studies completed:
1: Lekki-Maiduguri
2: Itakpe -Abuja central railway
3: Lagos-Calabar Coastal Railway
4: Port Harcourt-Maiduguri
5: Benin-Agbor-Onitsha-Nnewi-Owerri-Aba with additional line from Onitsha-Enugu-Abakaliki (500km)
6: Lagos-Shagamu-Ijebu Ode-Ore-Benin City (300km)
7: Zaria-Funtua- Gusau-Kaura Namoda-Sokoto-Ilela-Birni Kebbi (520km)
8: high speed Lagos- Ibadan-Osogbo-Baro-Abuja.
9: coastal rail line route Benin city -Sapele-Warri-Yenagoa-PH-Aba-Uyo-Calabar-Akampa-IKOM-Obudu (673km)
10: Kano-Dayi-Katsina-Jibiya (345km)
11: Eganyi-Jakura-Baro-Abuja- Abuja (idu) 280km
12: Aba-Ikot Ikpene-Itu Odukpani -Calabar (340km)
13: Ilela -Sokoto-Jega-Yauri-Makera (408km)
B: Funding: we don’t have money to fund them. Way forward:
1: Loan.
-(a): let us avoid reckless talk so that lenders can approve our requests.
2: Nigerians abroad (talk to your friends) can participate via Public-Private Partnership @SaheedOlaSalami@zmosdef
The Nigeria Revenue Service @NigeriaRevenue under the stewardship of Dr Zacch Adedeji has evolved to be a strong pillar of our administration’s drive to build a stronger, more prosperous Nigeria.
Today’s commissioning of their new Headquarters, which had been left abandoned for more than two decades across several administrations, has set a new standard for continuity, discipline, and results in governance.
We did not inherit excuses. We inherited responsibilities. And we will continue doing everything possible to meet them.
This is what reform looks like. Institutions being strengthened. Revenues secured and rising. Confidence returning and restored.
We will continue to rebuild, reform, and deliver for the Nigerian people.
Well done to Zacch, the NRS Team, the Bureau of Public Procurement, and every partner who made this possible in record time.
The work continues.
~ Bola Ahmed Tinubu
President of the Federal Republic of Nigeria
Standing in Bayelsa today, what I saw was more than infrastructure.
The New Yenagoa City Road 1 is about access. The Angiama–Oporoma Bridge is about connection. The Bayelsa Independent Power Project is about opportunity.
At every level, government must stay focused on what works for people and our administration will continue to collaborate with states serious about putting people first.
When we do this, we are not just building projects. We are building confidence in our future as a people and as a nation.
I must commend Governor Duoye Diri for putting the people first. Thank you, Bayelsa.
Nigeria will surely succeed.
President Bola Ahmed Tinubu
Happy Birthday @PoojaMedia 🎉 Grateful for your inspiration, your mentorship, and the chances you gave me to show what I can do. You’re a master with the camera and an even better human. I hope this year brings you more light to chase and more stories to tell. Happy Birthday
Since 1999.... Only four govs have built major electricity power plant....
Tinubu = AES Barge IPP ..... 270 MW
Victor Attah = Ibom Power.....191 MW can scale up to 685 MW
Peter Odili = Trans Amadi = 500MW
Godwin Obaseki = 100MW .....Ossiomo...
Peter Obi is not one of them....
He is crassly clueless on how power is generated and distributed...
So he could be forgiven for asking to be educated on how federal government arrived at the N3.3trillion electricity Subsidy pay out....
It's only such an ignorant man that won't know that Nigeria has been Subsidizing electricity for it's citizens since the days of ECN...
It's public knowledge that govt have been struggling to pay these power subsidies since 2014....
Living a huge chunk that was initially estimated as over N6trillion ... Until the Tinubu ordered audit that arrived at N3.3trillion...
It could have been over N6trillion if not for the Band A-E reforms... Which reduced the financial burden on the govt...
The only reform left is mass metering, cost reflective tarrif and elimination of the cartel destroying gas pipes and power transmission lines...then the sector is 90% settled...
It's shameful that obi who has led a state for 8 years and has vied for Vice President or president for the last 8 years is so grossly ignorant on the issues in the power sector....and won't pin his mouth and use his head to learn...
Those who claim to have degrees supporting that crassly ignorant empty container from Onitsha are the ones I pity.
@ADCVanguard_@inecnigeria ADC will be the end of Nigeria. You think Tinubu and APC is terrible now, wait till ADC takes over. Nigeria will be finished.