Nigeria’s Debt Nears ₦180trn as Tinubu Seeks Fresh ₦34trn Loan, Pension Bond

Nigeria’s public debt is set to surpass ₦180 trillion as President Bola Tinubu seeks National Assembly approval for new loans totaling ₦34.15 trillion. The request includes $21.5bn in external loans and a ₦757.9bn domestic bond to clear pension arrears.

Tinubu says the borrowing targets critical sectors such as infrastructure, health, education, and agriculture, amid revenue challenges and subsidy removal.

With debt service costs now exceeding revenue by 131%, experts warn of rising fiscal pressure and call for transparency and targeted spending.