BORROWER-IN-CHIEF: TINUBU BORROWED OVER ₦65.9TRN IN 24 MONTHS, YET LOANS CANNOT BE LINKED TO ANY SIGNIFICANT PROJECT — SOCIAL COMMENTATOR

May 27, 2026 • Dons Eze • 1 min read

A social commentator has raised concerns over Nigeria’s rising debt profile, lamenting that the current administration under Bola Tinubu borrowed about ₦65.9 trillion within 24 months, yet has no significant projects to show for it.
Post on X, the commentator, Adetutu Balogun claimed that the figure is about five times higher than Nigeria’s total debt accumulation over the past 55 years, describing the development as alarming.

According to her, there are no visible major projects across the country that can be linked to the loans obtained, raising questions about how the borrowed funds were utilized.

‘’In just 24 months, Tinubu’s ₦65.9 trillion debt exceeds more than five times Nigeria’s total borrowing over 55 years, and these loans still cannot be linked to any significant projects.’’

She argued that despite the scale of borrowing, Nigerians continue to face economic hardship, inflation, unemployment, and deteriorating infrastructure, with little or no evidence of projects that reflect the level of debt incurred.

The commentator maintained that while borrowing can support development if properly managed, it becomes a serious concern when it does not translate into tangible results that citizens can see or benefit from.

Dons Eze

DONS EZE, PhD, Political Philosopher and Journalist of over four decades standing, worked in several newspaper houses across the country, and rose to the positions of Editor and General Manager. A UNESCO Fellow in Journalism, Dr. Dons Eze, a prolific writer and author of many books, attended several courses on Journalism and Communication in both Nigeria and overseas, including a Postgraduate Course on Journalism at Warsaw, Poland; Strategic Communication and Practical Communication Approach at RIPA International, London, the United Kingdom, among others.