Experts: Nigeria’s rising debts troubling, weakening capacity to finance future needs

With public debt standing at N166.79 trillion as at June 2026 and the federal government seeking approval for another $21.7 billion in external loans, experts are genuinely raising red flags over the situation, calling on economic handlers to make a detour before the country is boxed into a debt trap.
According to them, the level of borrowing is unhealthy when compared to revenue generation.
They said the wide mismatch between debt and income creates a scenario that suggests the country may be gradually borrowing away its fiscal future and ultimately stall its development goals.
However, they noted that the growing concern is not necessarily that Nigeria is on the brink of sovereign...