Nigeria's Government Targets 18.83% Debt-to-GDP by 2030

The Federal Government of Nigeria has set ambitious targets to reduce the country's public debt from 36.07% of Gross Domestic Product (GDP) in 2025 to 18.83% by 2030, while increasing government revenue from 11.15% to 18.70% of GDP in the same timeframe. These goals were announced by Dr. Doris Uzoka-Anite, the Minister of State for Budget and Economic Planning, during the 2026 International Credit Rating Webinar organized by DataPro Limited.

The government aims to lower the debt-service-to-revenue ratio from 62.93% in 2025 to 21.01% by 2030, easing the burden of debt servicing on public finances. Dr. Uzoka-Anite emphasized that achieving these targets depends on effective fiscal reforms, improved revenue mobilization, and enhanced collection efficiency.

The government plans to broaden the revenue base, improve tax compliance, and reduce reliance on oil revenues. Capital expenditure is projected to rise to 57.43% of total government expenditure by 2030, focusing on infrastructure and human capital development.