Nigerian President Bola Tinubu has asked lawmakers to approve a $22 billion borrowing plan to fund infrastructure projects that would be undertaken if he secures a second term in January's election.
The request came as Tinubu and his chief rivals stepped up campaigning in major Nigerian cities. Since taking office in 2023, Tinubu has backed ambitious infrastructure projects, including a 750km coastal highway to connect Lagos to eastern commercial cities.
The $11 billion highway, which is under construction, has been beset by controversy after the government floated a plan to divert it into an existing road. Previous administrations have been plagued by poor accountability on large-ticket projects, a problem that Tinubu's critics say remains the case under his presidency.
Analysis
Why This Matters
- The $22 billion request ties major infrastructure spending to the outcome of January's election, putting public borrowing at the centre of the campaign.
- Approval would commit Nigeria to significant new debt before the vote, and the coastal highway dispute offers a test of how the government handles scrutiny of flagship projects.
- The debate over accountability could shape how voters view Tinubu's record as he seeks a second term.
Background
Since taking office in 2023, President Tinubu has backed large infrastructure projects, including the 750km coastal highway connecting Lagos to eastern commercial cities. That $11 billion project is under construction but controversial after the government floated a plan to divert it into an existing road. Nigerian governments have long struggled with poor accountability on large-ticket projects, a problem critics say continues under Tinubu.
Key Perspectives
President Bola Tinubu: backs ambitious infrastructure projects and is seeking the borrowing plan to fund more of them if re-elected.
Tinubu's critics: say poor accountability on large-ticket projects remains the case under his presidency.
What to Watch
- Whether Nigerian lawmakers approve the $22 billion borrowing plan.
- How the coastal highway route controversy develops ahead of the election.
- Whether infrastructure accountability becomes a defining issue as campaigning intensifies in major cities.
Checked
9 claims in this story checked against 1 source: 9 supported.
Show each claim
- SupportedTinubu asked lawmakers to approve a $22 billion infrastructure borrowing plan.Semafor: “Nigerian President Bola Tinubu asked lawmakers to approve a $22 billion borrowing plan to fund infrastructure projects”
- SupportedThe borrowing plan is for projects that would be undertaken if Tinubu secures a second term in January’s election.Semafor: “to fund infrastructure projects to be undertaken if he secures a second term in January’s election.”
- SupportedTinubu and his chief rivals stepped up campaigning in major Nigerian cities when the request came.Semafor: “The request came as the president and his chief rivals stepped up campaigning in major Nigerian cities.”
- SupportedSince taking office in 2023, Tinubu has backed ambitious infrastructure projects.Semafor: “Tinubu has backed ambitious infrastructure projects since taking office in 2023”
- SupportedOne project is a 750km coastal highway intended to connect Lagos to eastern commercial cities.Semafor: “including a 750km coastal highway to connect Lagos to eastern commercial cities.”
- SupportedThe highway project is worth $11 billion and is under construction.Semafor: “But the $11 billion project, which is under construction,”
- SupportedThe highway project has been beset by controversy after the government floated a plan to divert it into an existing road.Semafor: “the $11 billion project, which is under construction, has been beset by controversy after the government floated a plan to divert it into an existing road.”
- SupportedPrevious administrations have been plagued by poor accountability on large-ticket projects.Semafor: “Previous administrations have been plagued by poor accountability on large-ticket projects,”
- SupportedTinubu’s critics say poor accountability remains a problem under his presidency.Semafor: “a problem the president’s critics say remains the case under Tinubu.”