PDP Questions FG on N159.35tn Debt Benefits
The Tanimu Turaki-led faction of the Peoples Democratic Party (PDP) has called on the Federal Government to explain how its substantial borrowings, totaling N159.35 trillion as of March 31, 2026, have benefited Nigerians, particularly regarding insecurity, unemployment, and infrastructure. The PDP's Interim National Working Committee expressed concern over the rising debt under President Bola Ahmed Tinubu's All Progressives Congress (APC)-led government.
They criticized the government's reliance on loans despite a weak revenue base and noted that part of the debt increase was due to the naira's depreciation. The PDP highlighted that Nigeria would spend approximately $11.6 billion on debt servicing in 2026, up from $5.15 billion in 2025, with N15.8 trillion allocated for debt servicing in a total budget of N68.32 trillion.
They emphasized the need for transparency regarding which projects are financed by borrowed funds and warned against the practice of borrowing to repay existing debts.
Plus234Feed summary based on reporting from Daily Post. Read the original report below.
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