Nigeria shifts borrowing to roads, ports, rail and power, says Tinubu

Nigeria is shifting public borrowing from short-term needs to long-term investment in roads, ports, rail and power to drive growth, jobs and a USD 1 trillion economy by 2030. Reforms since 2023 have improved GDP growth, cut inflation, boosted revenue and reserves, and lowered borrowing costs while raising tax-to-GDP and capital spending shares.

Pidgin: Nigeria don shift public borrowing from short-term needs go long-term investment for roads, ports, rail and power to drive growth, jobs and USD 1 trillion economy by 2030. Reforms wey dem do since 2023 don better GDP growth, cut inflation, boost revenue and reserves, and lower borrowing costs while dem raise tax-to-GDP and capital spending shares.

How this affects you: Ordinary Nigerians will benefit from hundreds of thousands of direct and indirect jobs, lower logistics and food costs, and new industrial, agricultural and trade opportunities from the infrastructure projects.