Special Adviser to President Bola Tinubu on Policy Communication, Daniel Bwala, has said the Federal Government is borrowing billions of dollars to fund critical infrastructure projects across the country. Bwala made the comment while reacting to remarks by the Emir of Kano, Muhammed Sanusi, who noted that Nigeria requires between $30 billion and $100 billion annually to address its infrastructure deficit. In a post on 𝕏, Bwala stated: “Your Royal Highness, we are simply borrowing to invest in the most important areas of our economy, with infrastructure being the most…
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Nigeria debt pressure rises, as FG borrows ₦8.1tr in just 3 months
Nigeria’s rising debt profile came under fresh scrutiny, as the Federal Government ramped-up domestic borrowing to ₦8.1 trillion in the first quarter of 2026, marking a 7.4% increase from ₦7.5 trillion recorded in the same period last year. Data from the Central Bank of Nigeria (CBNM and the Debt Management Office (DMO) show that the increase was largely driven by higher issuances of FGN Bonds and Savings Bonds, even as borrowing through Treasury Bills declined. Analysts say the trend reflects persistent revenue shortfalls and weak fiscal discipline, warning that the…
Read MoreFG plans ₦17.89tr borrowing in 2026
…Almost half of its revenue set to pay debt The Federal Government plans to borrow a staggering ₦17.89 trillion in 2026 to fund its budget as revenue projections fall sharply short of expenditure needs. According to the 2026 Abridged Budget Call Circular from the Ministry of Budget and Economic Planning, new borrowing will surge from ₦10.42 trillion in 2025, marking a 72% increase in fresh loans amid growing concerns over debt sustainability. The sharp rise is driven by a larger fiscal deficit, projected at ₦20.12 trillion in 2026, up from…
Read More‘Lagos tops, as national debt climbs to ₦152.39tr’ -NBS
Nigeria’s total public debt climbed to ₦152.39 trillion in the second quarter of 2025, with Lagos once again emerging as the most indebted state, according to new figures released by National Bureau of Statistics, (NBS). The latest debt profile, which captures both external and domestic obligations of the federal and state governments, reflects a 2.01 per cent increase from the ₦149.38 trillion recorded in the first quarter of the year. The rise underscores the country’s continued reliance on borrowing to stabilise public finances amid revenue constraints and mounting developmental needs.…
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