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Posted: 2025-05-29 17:58:34 UTC
This article contains some claims that remain unverified. While much of the content may be accurate, exercise care when relying on this information.
This article contains some claims that remain unverified. While much of the content may be accurate, exercise care when relying on this information.
Status
Last Updated
2025-05-29 17:58:58 UTC
Verified By
Rollup News
The Tinubu-led APC government's plan to pursue fresh external and domestic loans is criticized as a reckless move that threatens Nigeria's future. The borrowing spree will raise the total public debt from ₦144.7 trillion to ₦183 trillion, exacerbating an already alarming debt burden. The administration is accused of borrowing not for development but to service existing loans, creating a debt spiral that mortgages the future to pay for the past.
Increase in public debt from ₦144.7 trillion to ₦183 trillion.
Debt-to-GDP ratio exceeding 50%.
Debt-service-to-revenue ratio over 130%.
Borrowing to service existing loans instead of investing in development.
Alarming levels of public debt.
Unsustainable debt-service-to-revenue ratio.
Borrowing to service existing loans instead of investing in development.
Risk of economic sabotage.