Speaker Abbas Warns Nigeria Over Debt Exceeding Limits

Speaker of the House of Representatives, Hon Abbas Tajudeen, criticized the Tinubu government for exceeding Nigeria's constitutional borrowing limits, risking fiscal stability. At the WAAPAC conference, Abbas revealed Nigeria's public debt had surged to $97 billion in Q1 2025, breaching the 40% ceiling set by law.

He emphasized the urgent need for transparent borrowing reforms to ensure loans benefit the economy. Abbas proposed establishing a West African Parliamentary Debt Oversight Framework to harmonize debt reporting.

This warning highlights the country's growing debt burden and the necessity for stricter fiscal management to avert a debt crisis.