Nigeria's Debt-to-GDP Ratio Projected to Reach 34.6% by 2026 Amidst Rising Borrowings

The Central Bank of Nigeria (CBN) projects Nigeria's debt-to-GDP ratio to hit 34.6% by 2026, with foreign reserves expected to rise to $51 billion. The country's public debt has been on the rise, reaching ₦152.39 trillion ($99.66 billion) by June 2025, prompting concerns about the sustainability of borrowing.

The Northern Elder Forum (NEF) has criticized the government's borrowing practices, warning of future economic dangers and urging Nigerians to speak out against reckless borrowing. The country's fiscal outlook remains optimistic, but the increasing debt levels pose a significant challenge to Nigeria's economic stability.