Oyedele: Tinubu’s $21.7bn Borrowing Plan Is for Investment, Not Spending
By Blaze 91.5 FM | Oct 29, 2026 | 3 min read
Minister of Finance and Coordinating Minister of the Economy Taiwo Oyedele, has said that the $21.7 billion borrowing proposal transmitted to the National Assembly by President Bola Tinubu is an investment in assets and not for spending.
Oyedele said this shortly after the Federal Executive Council Meeting at the Presidential Villa in Abuja on Wednesday.
He clarified that the proposed $21.7 billion plan represented a multi-year investment plan spanning roughly five years rather than an immediate drawdown.
He said $10.6 billion of the money was slated for critical transport links, including the Sokoto–Badagry Highway, Lagos–Calabar Coastal Highway, and the Kano–Kaduna Metro Rail.
He further said $3.3 billion is earmarked directly for state government projects, with an additional $1.45 billion set aside for the Federal Capital Territory (FCT).
