The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, says the borrowing policy of the Federal Government is not immoral, stating that debt should be viewed as a strategic financial tool for economic growth rather than a moral failing.
Oyedele stated this on Tuesday at the 2026 Annual Conference of the Capital Market Academics of Nigeria, CMAN, advocating the establishment of a dedicated Commercial Dispute Resolution Tribunal to fast-track the resolution of business disputes and improve Nigeria’s investment climate.
He argued that public criticism of government borrowing often ignores the more critical issue of how borrowed funds are utilised.
The minister added that the key consideration is not the size of a country’s debt but whether borrowed funds are invested in productive ventures capable of generating returns that exceed the cost of borrowing.
“The Federal Government’s borrowing is not immoral. In much of our public discourse, debt is spoken of as a moral failing rather than a financial instrument.
“The relevant question is never simply how much debt. It is always debt for what, at what cost, against what return, and repaid on what terms,” he said.
According to him, governments, businesses and individuals should embrace responsible borrowing when it is used to finance productive investments, warning that refusing to borrow under such circumstances amounts to a missed economic opportunity.
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