Nigeria, June 2 -- The Presidency has defended its decision to borrow an additional N34.15 trillion, saying it is necessary for economic development and not a problem if used wisely.

President Bola Tinubu recently asked the National Assembly to approve more domestic and external loans, sparking criticism from political figures.

However, during a media briefing in Lagos on Monday, the President's Special Adviser on Information and Strategy, Bayo Onanuga, said Nigeria has no choice but to borrow due to its economic situation.

"Borrowing isn't a sin," Onanuga said. "Even developed countries like the U.S. and the U.K. borrow beyond their GDP. The real issue is how the borrowed money is used."

He emphasized that Nigeria is a poor country w...