Debt Service Could Consume 72% Of Federal Govt Revenue By 2030 – DMO

Nigeria’s debt burden could become increasingly difficult to manage as debt servicing is projected to consume more than 70 per cent of the Federal Government’s revenue by 2030, raising concerns over the country’s shrinking fiscal space and capacity to finance development projects.
The Debt Management Office (DMO), in its 2024 Debt Sustainability Analysis (DSA), warned that although Nigeria’s public debt remains sustainable at a moderate level, the country is highly vulnerable to weak revenue mobilisation, exchange rate depreciation and global economic uncertainties.
The report projected that the Federal Government’s debt service-to-revenue ratio, which stood at 60.55 per cent in 2024,...