The Office of the Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, PhD, GCON, has debunked social media reports claiming he criticized the Federal Government’s borrowing, labeling them as “mischievous” and “fake news.”
A statement issued on September 8, 2025, by Jowosimi Olabamiji Enitan, the Special Adviser on New Media, clarified that Abbas supports responsible borrowing and emphasized legislative oversight, not condemnation.
The controversy arose from misinterpretations of Abbas’s speech at the 11th Annual Conference of the West Africa Association of Public Accounts Committees (WAAPAC) on September 8, delivered by Hon. Babatunde Salam (PDP).
Addressing public debt, which hit N149.39 trillion ($97 billion) in Q1 2025, Abbas described the 52% debt-to-GDP ratio as “alarming” and called for reforms to avoid “reckless borrowing,” ensuring loans fund infrastructure, education, and healthcare.
The statement clarified that Abbas views public debt as “a tool for growth” when managed prudently, highlighting: the legislature’s role in ensuring value for borrowed funds; President Tinubu’s non-oil revenue drive to reduce borrowing; Nigeria meeting its 2025 revenue target early without loans; and the need for transparency to deliver development like roads and hospitals.
Abbas’s office described debt oversight as a “constitutional duty” for Nigeria’s financial future, dismissing opposition narratives as “mischief.”
It took a swipe at critics, stating Abbas offers “no cure for their terminal slide into political oblivion.”
This follows attacks from PDP’s Dino Melaye and others decrying Tinubu’s $24 billion borrowing plan.
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