Tinubu Announces Nigeria No Longer Borrowing Locally; Debt Concerns Remain
President Bola Ahmed Tinubu revealed that Nigeria has stopped borrowing from local banks as the revenue target was exceeded. This announcement was made during a meeting at the Presidential Villa with members of the Buhari Organisation.
Despite the positive revenue performance, Nigeria's debt profile remains a concern, with the total public debt reaching ₦45 trillion as of March 31, 2025. While the government emphasizes fiscal discipline and revenue growth, analysts are cautious due to weak oil earnings and delayed tax reforms.
A CSL report suggests a potential fiscal deficit exceeding GDP and surpassing the 2025 budget projection.
Plus234Feed summary based on reporting from NairaMetrics. Read the original report below.
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