Nigeria's Debt Profile Reflects Fiscal Discipline Under Tinubu

On Wednesday, Jimoh Ibrahim, an ambassador-designate, commented on Nigeria's debt profile, asserting that the country does not rank among the world's most indebted nations. He attributed this to the fiscal discipline exhibited under President Bola Tinubu's administration.

Ibrahim criticized predictions of unsustainable borrowing, arguing that the current government has not engaged in excessive borrowing but rather has maintained a reform-driven policy approach, including the removal of fuel subsidies and exchange rate unification. He noted that while Nigeria continues to access credit for infrastructure development, it does so within manageable thresholds aligned with revenue reforms.

Ibrahim acknowledged that Nigeria's position outside the global high debt bracket does not eliminate fiscal risks, emphasizing the need for improved non-oil revenue and public sector efficiency to maintain fiscal stability. He expressed confidence that ongoing structural reforms would strengthen the country's macroeconomic fundamentals, ultimately enhancing fiscal resilience.