Nigeria's Debt Figures Exaggerated, Says Finance Minister

On July 20, 2026, the Federal Government of Nigeria, through Finance Minister Taiwo Oyedele, addressed claims regarding the nation's debt profile, asserting that it has been exaggerated. Responding to Senator Adamu Aliero's allegations of an N80 trillion debt incurred by President Bola Ahmed Tinubu's administration, Oyedele clarified that the actual debt is around N75 trillion, inherited from previous administrations.

He explained that the reported figures are misleading due to miscalculations and adjustments related to the depreciation of the naira. The minister emphasized that the current administration's borrowing is strictly for infrastructure purposes, not for consumption.

He also noted that the government is committed to sustainable debt management. Senator Tahir Monguno raised concerns about the implementation of the capital component of the 2026 budget, while Senator Sani Musa assured colleagues that the capital component would be implemented soon.