By Toba Owojaiye
Wednesday, July 23, 2025
ABUJA, NIGERIA
In a bold move aimed at overhauling Nigeria’s crumbling infrastructure and igniting long-term economic growth, the Nigerian Senate has approved a sweeping six-year borrowing plan submitted by President Bola Ahmed Tinubu. The proposal authorizes the Federal Government to raise $21.5 billion, €2.1 billion, and ¥15 billion, channeling the funds into landmark projects across rail, road, power, ports, health, and youth development sectors.
Truth Live News gathered that, while speaking before lawmakers, President Tinubu emphasized that the loan is not “borrowing for consumption” but rather “borrowing for future prosperity.” Key beneficiaries of this financial injection include the long-neglected eastern rail corridor, national power grids, youth entrepreneurship, and strategic roads that unlock access to economic hubs.
Among the highlights of the borrowing plan are:
$3 Billion for Eastern Rail Line: Construction of the Port Harcourt–Maiduguri railway will finally commence, linking the South-South to the North-East. Long viewed as a symbol of infrastructural imbalance, its revival has drawn praise from the Southeast.
$1.33 Billion for Akwanga–Jos–Bauchi–Gombe Dual Carriageway: The ambitious road project is expected to boost trade and reduce travel time across North Central and North East regions.
$2.21 Billion for Super Grids: Two major electricity super grids—Eastern ($1.14bn) and Western ($1.07bn)—will stabilize national power transmission and reduce blackouts.
$2 Billion for Lagos Green Line Rail Project: A game-changer for urban mass transit, this will reduce congestion and support Nigeria’s green transition agenda.
$596.2 Million for Kaduna–Kano Rail Stock Procurement: Modern rolling stock for this corridor will fast-track the national railway modernization effort.
$508 Million to Modernize Eastern Ports: Strategic port upgrades will transform Aba, Onne, and Calabar ports into thriving commercial gateways.
$100 Million Presidential Power Initiative: Backed by Chinese partners, this will enhance electricity distribution infrastructure nationwide.
$116 Million for Zungeru Transmission Lines: The project will evacuate 700MW of electricity from the Zungeru hydropower plant into the national grid.
Youth and Social Investment:
$100 Million Youth Entrepreneurship Investment Fund (AfDB)
$45 Million Sokoto Health Infrastructure Project (AfDB)
$50 Million Yobe Integrated Climate Action Project (AfDB)
Security and Strategic Access:
$250 Million for Lekki Access Road (7th Axial Road)
$540 Million for National Border Security Project
$700 Million for Lagos–Calabar Coastal Highway
Emergency Food Security Programme: Funded by JICA with ¥150 billion, this aims to avert food crises amid inflation and climate shocks.
During plenary, Senator Victor Umeh (Anambra Central) praised the initiative, especially the $3 billion eastern rail allocation.
“This is the first time I’ve seen such a bold allocation to rebuild the eastern rail line. That alone justifies my full support. We are witnessing a true national rebalancing.”
Senator Sani Musa, Chairman of the Senate Committee on Finance, clarified that the borrowing plan is to be disbursed over six years, not limited to 2025. He stressed that Nigeria remains compliant with all international loan obligations.
“We have never defaulted, and we do not intend to. These are strategic borrowings tied to viable projects.”
If executed transparently and efficiently, this borrowing plan could serve as the turning point in Nigeria’s infrastructural story:
Regional Balance: The Eastern rail and port projects address decades of marginalization in the South East and South-South.
Youth Empowerment: The AfDB-funded youth investment initiative could catalyze small business creation and innovation in a country where over 60% of the population is under 30.
Power Stability: Super grids and hydropower evacuation will provide the backbone for industrial growth and rural electrification.
Urban Mobility: Green Line in Lagos and the Kaduna–Kano upgrades will make public transportation more reliable and climate-conscious.
Security & Sovereignty: Border security investments align with Nigeria’s ongoing push to end cross-border terrorism and smuggling.
The test of this loan plan lies not in Senate approval but in governance, transparency, and execution. Nigeria’s borrowing space is shrinking, and every dollar must count. Civil society, media, and international partners must now turn their eyes toward implementation timelines, contractor integrity, and local content integration.
This is not just about rebuilding infrastructure, it is about restoring trust in governance, dignity in travel, and hope for a generation tired of hearing promises.
If faithfully executed, this six-year plan could be Tinubu’s economic legacy, a blueprint for how Nigeria builds, not borrows.