Renowned economist, Professor Akpan Ekpo, has raised fresh concerns over Nigeria’s growing debt under President Bola Tinubu, warning that the borrowings so far lack visible justification.
Speaking on Arise Television’s Morning Show on Wednesday, Ekpo said he has yet to see projects on the ground that warrant the country’s ballooning debt profile. According to him, borrowing in itself is not bad, but it must be tied to investments that add real value to the economy.
He explained that channeling loans into infrastructure such as power could transform the economy by creating jobs, boosting productivity, and stimulating growth. However, borrowing without transparency or clear direction risks worsening Nigeria’s financial challenges without solving long-term problems.
“I have not seen projects under the Tinubu administration that justify Nigeria’s high debt rate for now,” he said. “If this administration is borrowing for infrastructure like power, that can create jobs and boost the economy, then that will be a positive step. Borrowings must be transparent and strictly tied to projects that strengthen the domestic economy against external shocks.”
Ekpo’s remarks echo a growing national debate over whether Nigeria’s debt is fueling real development or simply piling future burdens on citizens.
