Speaker Abbas Raises Alarm Over Nigeria's Rising Debt Levels, Calls for Urgent Reforms
Speaker Tajudeen Abbas of the House of Representatives in Nigeria expressed concern over the country's escalating debt levels, labeling it as "alarming." During the 11th Annual Conference of the West Africa Association of Public Accounts Committees, Abbas highlighted that Nigeria's debt had surpassed the statutory threshold, posing a threat to fiscal sustainability. He emphasized the need for urgent reforms in borrowing practices and enhanced oversight to ensure economic and social returns match the borrowing.
Abbas also announced Nigeria's readiness to lead the establishment of the West African Parliamentary Debt Oversight Framework to streamline debt reporting across the region.
Plus234Feed summary based on reporting from Legit NG. Read the original report below.
Read full article
Continue on Legit NG
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Nigeria's Debt Reaches Critical Point, Speaker Warns of Fiscal Strain
Nigeria's Speaker Clarifies N149.39trn Debt, Tinubu Emphasizes Responsible Borrowing
ADC Slams Speaker Abbas for Debt Profile U-Turn
Speaker Abbas Tajudeen Clarifies Stance on Nigeria's Borrowing, Emphasizes Responsible Debt Management
African Parliaments Enhance Oversight on Public Debts at Annual Conference in Abuja
Speaker Abbas Clarifies Stance on Responsible Borrowing
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
