Borrowing Is Not a Sign of Weakness, FIRS Chairman Adedeji Says

The Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, has defended the government’s borrowing practices, stating that loans are a normal part of budgeting and not a sign of financial weakness. Speaking in Abuja, Adedeji said the Tinubu administration has ended the controversial “Ways and Means” funding method, converting the previous balance into a formal federal loan now being repaid. He emphasized that all current borrowing is within limits approved by the National Assembly and explained that borrowing, especially for infrastructure, fuels economic growth and feeds back into the system through taxation and job creation.

Written by Adeyemi Adewale