Nigeria’s public debt hitting N160 trillion is not just a staggering figure, it’s a warning sign. As the country continues to borrow to fund budget deficits, service existing debt, and meet urgent obligations, the implications grow heavier. This mounting debt burden puts immense pressure on government revenue, most of which is already being used to service previous loans.
With little left for infrastructure, education, healthcare, or job creation, the consequences of debt dependency are already being felt in the daily lives of ordinary Nigerians.
What’s even more concerning is that this figure could rise even higher, as Nigeria continues to struggle with low revenue generation, oil theft, foreign exchange instability, and inflation. Borrowing may seem like a quick fix, but it risks trapping the nation in a cycle of debt with limited fiscal space for development.
N160 trillion is more than just a number, it’s a signal that urgent reforms in public finance, transparency, and sustainable economic planning are needed to secure Nigeria’s future.
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