Nigeria's Debt Sustainability and Fiscal Responsibility Discussed

'Tope Fasua recently delivered a lecture titled "Public Debt Sustainability and Fiscal Responsibility in Nigeria" at Nile University, Abuja, marking the annual lecture series. He engaged with students and academics, discussing Nigeria's current debt situation, which is approximately N30 trillion.

Fasua highlighted the criticisms from political opponents regarding President Tinubu's borrowing practices, emphasizing that the debt is manageable despite concerns over the naira's depreciation. He noted that Nigeria's debt-to-GDP ratio fluctuates between 31% and 38%, which is lower than many African peers.

The debt service ratio has improved from 120% in 2022 to around 60% currently, although it remains a concern. Fasua argued that Nigerians desire significant infrastructure development, which necessitates borrowing, and criticized the perception of high debt service ratios as a barrier to progress.

He concluded that the management of Nigeria's debt requires careful scrutiny and reform to ensure fiscal responsibility.'.