Opposition Warns Tinubu’s ₦58.18tn Budget Could Worsen Nigeria's Debt Crisis

The major opposition party in Nigeria has strongly objected to President Bola Tinubu's proposed ₦58.18 trillion budget for 2026, citing concerns that the spending plan could deepen the country's debt crisis and exacerbate the hardships faced by citizens. The opposition argues that the budget heavily relies on borrowing and allocates a significant sum to debt servicing without clear evidence of previous loans improving living standards.

The opposition parties, including the Social Democratic Party (SDP) and Labour Party, have raised alarms about the potential negative impact of continued borrowing on the country's economy and the well-being of its citizens.