Nigerian Experts Warn of Growing Debt Burden Despite Revenue Increase

Financial experts in Nigeria, including Dr. Muda Yusuf and Bismarck Rewane, have raised alarms over the government's growing debt burden. Concerns were voiced following the approval of President Bola Tinubu's request to borrow N1.15 trillion domestically to finance the 2025 budget deficit.

The experts highlighted that Nigeria's debt servicing costs are already surpassing capital expenditure, urging the government to focus on revenue growth and fiscal consolidation. They warned that the government's borrowing is primarily funding recurrent expenditures rather than productive capital projects, risking a deepening fiscal crisis.

Transparency and accountability in managing previous debts were also emphasized by experts like Vahyala Kwaga from BudgIT.