Nigeria's debt rises to N166.79 trillion under Tinubu, raising concerns over citizens' welfare
Nigeria's total debt increased by 90.9% to N166.79 trillion by June 2026 under President Bola Ahmed Tinubu.
In Brief
- •Nigeria's total debt increased by 90.9% to N166.79 trillion by June 2026 under President Bola Ahmed Tinubu.
- •External debt rose by 28.4% to $54.52 billion, while domestic debt increased by 55% to N91.59 trillion.
- •The Federal Government accounts for the majority of the debt at N152.77 trillion, representing 91.6%.
- •Financial expert Godwin Oyedokun warns that rising debt could pressure future public finances and essential services.
- •Oyedokun advocates for a stronger debt management culture focused on productive borrowing and measurable outcomes.
Why It Matters
Nigeria's rising debt profile is a significant concern as it could impact the welfare of citizens. The country's debt has increased substantially under President Tinubu, raising questions about the allocation of borrowed funds and their potential to generate economic returns. This situation could constrain the fiscal space available to address future economic shocks and invest in essential services like education, healthcare, and infrastructure. The expert's call for a stronger debt management culture emphasizes the need for transparency, accountability, and measurable outcomes to ensure that borrowed funds contribute to long-term economic growth and benefit Nigerians.
Key Details
- Total Debt
- N166.79 trillion
- Debt Increase
- 90.9%
- External Debt
- $54.52 billion
- Domestic Debt
- N91.59 trillion
- Federal Government Debt
- N152.77 trillion (91.6%)
Original Reporting & Sources
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