Nigeria Finance Minister Defends Borrowing Proposes Tribunal

Nigeria's Finance Minister, Taiwo Oyedele, has defended the government's borrowing strategy and proposed a new commercial tribunal to improve the investment climate, arguing that public criticism of debt often overlooks how funds are used. The minister made these remarks during a keynote address at the Fellowship Award Ceremony and 2026 Annual Conference of the Capital Market Academics of Nigeria in Abuja on Tuesday, June 30.

Oyedele stated that debt should be viewed as a strategic financial tool rather than a moral failing. He emphasized that the critical question is not the amount of debt but whether borrowed funds are invested in productive ventures that generate returns exceeding the borrowing cost. He criticized analysts and commentators for what he described as joining a populist view against government borrowing, saying such criticism does a disservice to the nation. Nigeria's total public debt stood at N159.28 trillion as of December 31, 2025.

In related comments, the minister confirmed the government's recent drawdown of $1.5 billion from a $5 billion loan facility with First Abu Dhabi Bank. He explained that the loan, approved by the National Assembly, is being...