Tinubu Will Utilise Loans For Intended Purposes – Agbese

Deputy spokesperson of the House of Representatives, Hon. Philip Agbese, has expressed confidence in President Bola Tinubu’s ability to prudently manage Nigeria’s resources, describing him as a “meticulous economic planner” whose leadership is gradually rebuilding the nation’s financial stability.

Speaking in an interview with journalists at the National Assembly, Agbese said recent approvals for external borrowing by the federal government should not cause concern among Nigerians, noting that under Tinubu’s watch, every loan will be judiciously used for its intended purpose.
Agbese, a member of the All Progressives Congress (APC) from Benue State, spoke against the backdrop of the fresh loan requests the National Assembly recently approved for the President.

The both chambers of the National Assembly had approved President Tinubu’s request to raise a total of $2.347 billion from the international capital market to part-finance the 2025 budget deficit and refinance maturing Eurobonds.

Some Nigerians have raised concerns over the rising public debts occasioned by frequent borrowings and the prudence in the utilisation of the approved loans.

But Agbese while speaking on the matter, expressed confidence in the capacity of President Bola Ahmed Tinubu to utilise the various approved loans for their intended purposes.

“We must understand that President Bola Ahmed Tinubu is not just an ordinary politician; he is a tested economic strategist who has demonstrated exceptional prudence in resource management.

“His record as Lagos State Governor remains a model of how strategic planning and fiscal discipline can transform a region into an economic powerhouse,” he said.
According to the lawmaker, the President’s approach to national development is driven by a clear blueprint designed to strengthen critical sectors, stimulate job creation, and ensure sustainable economic growth.

“Mr. President knows what he is doing. He doesn’t take decisions impulsively. Every borrowing plan under this administration is carefully thought out, with a clear framework for repayment and measurable developmental outcomes. Nigerians can trust his sense of judgment,” he said.

The Benue-born legislator praised President Tinubu’s Renewed Hope Agenda for restoring confidence in Nigeria’s economic direction, stressing that the ongoing reforms in the fiscal and monetary sectors are already yielding positive signals.

“From stabilising the exchange rate to boosting investors’ confidence, we are beginning to see the results of a visionary leader who understands both local and international economics.

“These are not accidental successes—they are the result of meticulous planning and consistent follow-through,” he said.

Agbese also commended the National Assembly for maintaining a constructive partnership with the executive arm of government in ensuring that all loans are properly scrutinised and tied to tangible development projects.

“As representatives of the people, we have a duty to ensure transparency and accountability,” he explained. “But I can assure Nigerians that with President Tinubu at the helm, there’s no cause for fear. His track record of transforming Lagos into Africa’s fifth-largest economy speaks volumes about his capacity to deliver.”

He added that the President’s economic vision goes beyond immediate relief, emphasising long-term sustainability, industrial expansion, and infrastructural renewal as core priorities.