Senator Jimoh Ibrahim Urges Strategic Borrowing for Infrastructure Development
Senator Jimoh Ibrahim of Ondo South has called on President Bola Tinubu to pursue strategic borrowing to fund critical infrastructure projects. Speaking on Channels Television’s Politics Today on Tuesday, Ibrahim expressed support for the Federal Government’s proposed borrowing plans, advocating for what he termed "good money." “To be realistic, you need to borrow good money, not all these $2 billion,” Ibrahim stated during the interview. He proposed the issuance of long-term national bonds as an alternative funding method. “If Mr. President decides to visit the United States and launch the national bond at 10 years at 10 per cent, you will get $100 billion,” he added. According to the senator, borrowing amounts “above $50 billion” is necessary to drive significant economic development. President Tinubu recently requested the National Assembly’s approval for a new foreign borrowing plan amounting to N1.767 trillion to help address the N9.7 trillion deficit in the 2024 budget
