Nationwide infrastructural drive justifies Tinubu’s borrowing – Onanuga

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, on Thursday defended President Bola Tinubu’s borrowing policy, saying ongoing infrastructure projects across the country justify the administration’s decision to raise funds for critical development.

Onanuga said ongoing investments in roads and bridges demonstrate that borrowed funds are being channelled into infrastructure capable of boosting economic activities, improving connectivity and opening up previously isolated communities.

He spoke during the media tour of Projects in Benue State, by the Presidential Media Team, in collaboration with Renewed Hope Ambassadors (RHAs).

The media tour, organised by the Renewed Hope Ambassadors (RHA) in collaboration with the Presidential Media Team, is designed to showcase federal and state projects being executed under President Tinubu’s Renewed Hope Agenda.

The delegation inspected several projects, including the Buruku Bridge across the Katsina-Ala River, the Abuja-Akwanga-Lafia-Makurdi-9th Mile highway, the Wurukum Flyover, the High Level Underpass in Makurdi, the Food Basket Brewery and the Gboko Township Underpass.

Onanuga’s remarks come as a reaction to sustained criticism from opposition politicians and some economic experts over the Federal Government’s borrowing.

Since assuming office in May 2023, the Tinubu administration has secured fresh domestic and external loans to finance infrastructure, bridge budget deficits and support economic reforms.

Government officials, however, have repeatedly argued that the increase in Nigeria’s public debt stock also reflects the depreciation of the naira, which raised the value of existing foreign loans when converted to local currency, rather than fresh borrowings alone.

Speaking after inspecting the Buruku Bridge project, Onanuga said the projects provided a practical response to those questioning the administration’s borrowing strategy.

“As Nigerians, we see that the government has been accused of borrowing money. But we can also see where the money is going; to develop infrastructure, link people who had been forgotten, ensure commerce flows freely and enable farmers to move their produce straight to the markets,” he said.

He noted that the Buruku Bridge is one of five bridges currently under construction by the Federal Government in Benue State and would significantly improve movement between Benue, Taraba and Adamawa states.

According to him, the bridge will shorten travel time between rural communities and urban centres while creating a strategic economic corridor linking the North-Central and North-East.

He also expressed satisfaction with the pace of work after officials informed the delegation that funding was not a challenge because the project is being financed through the Renewed Hope Infrastructure Fund.

“This project is going to be beneficial to everybody economically,” Onanuga added.

The Federal Controller of Works in Benue State, Engr. Mukaila Danlandi, said the 854-metre dual carriage bridge commenced in 2023 and is expected to be completed by December 2027.

He explained that all the substructures, including piles, pile caps and piers, had been completed, while precast beams were ready for installation once the water level drops after the rainy season.

“There is no funding problem. The project is under the Renewed Hope Infrastructure Fund,” Danlandi said.

He added that compensation issues which initially slowed work had been resolved following the intervention of the Benue State Government.

Benue State Deputy Governor, Dr Samuel Ode, described the bridge as a landmark intervention that would permanently end decades of dangerous crossings on the Katsina-Ala River.

He recalled that the river had claimed many lives over the years through repeated boat mishaps, describing the project as “a golden gift to the people of Benue State.”

According to him, the bridge links Buruku, Logo, Katsina-Ala and Ukum local government areas before extending into Taraba State, making it a vital transport corridor for agricultural produce.

He said the project would particularly benefit Sankera, regarded as Benue’s major yam-producing belt, by providing direct access for trucks transporting yams and other food crops to markets across southern Nigeria.

“This particular bridge is a very important connecting road between the North-Central and the North-East. It is going to become a major economic hub in this sub-region,” Ode said.

For residents, the impact of the project is already being felt.

An indigene and iron bender working on the bridge, Ilakyaa Keghtor, said over 50 youths from the host community had secured employment on the construction site.

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