A journey marked by bold reforms, difficult choices, visible progress, and undeniable pain.
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It has been a mixed bag with many wins but also valid disappointments. Many Nigerians are dissatisfied, and I do not blame them. I have had my moments too.
May 28 • 16 tweets • 5 min read
IS TINUBU TAKING A $21.5 BILLION LOAN?
In this video, it was clearly stated that “President Tinubu is seeking approval for an external borrowing *PLAN* of $21.5 billion plus €65 million grant for *2025 to 2026*.”
First, this request is tied to the Medium Term Expenditure Framework (MTEF)
What’s that?
It’s a planning tool d govt uses to manage spending over a 3-5 year period. Think of it as a projection document that guides how each yr’s budget is prepared.
First off, the 7th Axial Road is a $651 million project approved by the last administration & funded by China-Exim Bank. Though in Lagos, it serves national assets like the Dangote Refinery, Fertilizer Plant, and key industries in the Free Zone and Lekki Deep Sea Port area.
Equating such a project to just one state is quite unfortunate. It’s like tying the Lagos-Ibadan Expressway to only the South-West, when it’s arguably the most critical link from the nation’s economic capital to the rest of the country.
