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Senator Jimoh Ibrahim Urges Tinubu to Borrow Strategically for Infrastructure Development
Senator Jimoh Ibrahim, representing Ondo South in Nigeria’s National Assembly, has advised President Bola Tinubu to consider borrowing strategically for the development of the country’s infrastructure.
Speaking on Channels Television’s Politics Today, Ibrahim expressed his belief that the Nigerian government should borrow what he termed as “good money” rather than taking on smaller loans that might not yield long-term benefits.
Ibrahim, defending the Federal Government’s planned borrowing, stated that while borrowing may be necessary, the funds should be directed towards projects that will contribute to the country’s economic growth and development.
He mentioned that the government could raise significant amounts of money by issuing bonds, an option that he believes would be more sustainable for Nigeria’s future.
“To be realistic, you need to borrow good money, not these small amounts like $2 billion,” Ibrahim said during the interview.
“If President Tinubu were to visit the United States and launch a national bond with a 10-year term at 10% interest, you could raise as much as $100 billion.
That’s the kind of borrowing that can make a real difference.”
When asked to define what he considers “good money,” Ibrahim clarified that any borrowing above $50 billion could be considered substantial enough to fund major infrastructure projects.
In his statement, the senator also touched on the government’s recent external borrowing plan.
President Tinubu had sent a request to the National Assembly for approval to borrow N1.767 trillion to help finance the N9.7 trillion deficit in the 2024 national budget.
Ibrahim expressed his support for the plan, but emphasized that the borrowed funds should be channeled directly into infrastructural development, which would create long-term value for Nigeria’s economy.
Drawing inspiration from Dubai, Ibrahim pointed to the city’s successful model of borrowing large amounts of money and investing it in key infrastructure projects.
He shared that Dubai had taken out a loan of $168 billion, using it to invest in tourism, innovation, and technology, which transformed the city into one of the most visited and economically vibrant destinations in the world.
“Dubai borrowed $168 billion, and look where it is today,” Ibrahim noted. “It’s a global hub, and the returns from their investments are enormous.
People flock to Dubai, and the dollars they bring in are a testament to the success of their strategy.”
Ibrahim further emphasized the importance of using borrowed funds wisely.
“If you borrow and invest in infrastructure, you’re setting the stage for growth,” he said.
“In Dubai’s case, they repay $20 billion every two years, and they’re able to sustain their development.
Nigeria could follow this model and use its borrowed funds to build the kind of infrastructure that will support future generations.”
Saudi Arabia Sleeping Prince, Prince Al-Waleed, makes headlines as he celebrates his 36th birthday while still in a long time coma.
It can be noted that the young prince got into a come back in 2005 after he was diagnosed with brain hemorrhage from a devastating car crash.
Since then the prince has been hooked on to life support in hopes for returning. Despite the many advisers that have stated to let him go, his father, Prince Khaled bin Tala, has refused.
He shares his belief that his son will return “If God had wanted him to die in the accident, he would have been in his grave now.”
The Joint Admissions and Matriculation Board (JAMB) has dismissed claims that it posted candidates outside their chosen examination centres for the 2025 Unified Tertiary Matriculation Examination (UTME).
In a statement released on Saturday in Abuja, JAMB’s spokesperson, Fabian Benjamin, made it clear that the board values the convenience of candidates and ensures that everyone sits for the exam in a location they selected among the available Computer-Based Test (CBT) centres.
He explained that candidates have the full right to choose their preferred examination town during registration, and JAMB simply assigns them to a centre within that town.
Benjamin pointed fingers at some secondary school owners and candidates who, according to him, continue to mislead and extort parents by spreading false stories.
“Let’s be clear: candidates pick their preferred town during registration, and JAMB posts them to a centre in that town,” he said. “The rumours that candidates are being sent to places they didn’t choose are completely false and only aimed at damaging the board’s image.”
To prove JAMB’s seriousness, Benjamin announced a financial reward for anyone who can provide solid evidence of a candidate posted outside their selected town. He also stated that any such proof should be sent within 96 hours to the Federal Competition and Consumer Protection Commission (FCCPC) through WhatsApp at 08056003030, allowing an independent body to handle the verification.
Speaking further, he compared the exam day procedures to what is expected at airports. “If passengers can be told to arrive at the airport two hours before a flight, then it’s reasonable to ask candidates to arrive at CBT centres 90 minutes before their exam for verification purposes,” he said.
He pointed out that many parents do not realise that early arrival helps handle important processes before the exams begin.
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, says the economic reforms introduced by President Bola Tinubu’s administration in the past eighteen months are tough but already yielding positive results.
Cardoso made this known in excerpts released after the 2025 IMF and World Bank Spring Meetings in Washington D.C. He said Nigeria’s delegation attended the meetings to showcase the economic steps taken under Tinubu’s leadership.
According to him, the country has strengthened its monetary buffers and is now in a better position to withstand external shocks. He assured Nigerians that although the reforms are not easy, they are pushing the economy from a place of weakness toward one of growing strength.
Since 2023, Tinubu’s government has rolled out major reforms like liberalising the foreign exchange market and removing fuel subsidies. Under Cardoso’s leadership, new measures like the FX code, the Electronic Foreign Exchange System (EFEMS), and the recapitalisation of the financial system were also introduced.
Meanwhile, Nigeria’s inflation dropped to 23.18 percent in March 2025, while the interest rate stood at 27.50 percent in February, even as the cost of living remained high.
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