Nigeria’s N166.79trn debt: Expert reveals what rising borrowing means for Nigerians

Financial expert and Professor of Accounting astatine Lead City University, Ibadan, Godwin Oyedokun, has elaborate the implications of Nigeria’s rising indebtedness profile, which stood astatine N166.79 trillion nether President Bola Ahmed Tinubu.

DAILY POST reports that information from the Debt Management Office, DMO, showed that Nigeria’s indebtedness roseate by 90.9 percent nether Tinubu’s administration, expanding by N87.4 trillion to N166.79 trillion successful June 2026.

This means that the country’s indebtedness roseate to N166.79 trillion by June 2026, an summation of N7.44 trillion successful the 2nd quarter, from N159.35 trillion successful March 2026.

The DMO said outer indebtedness roseate by 28.4 percent to $54.52 cardinal by June 2026, portion home indebtedness accrued by 55 percent to N91.59 trillion.

Further details of the indebtedness illustration indicated that the Federal Government accounted for the bulk of the indebtedness astatine N152.77 trillion, representing astir 91.6 percent.

Reacting, Oyedokun, successful an interrogation with DAILY POST, said the country’s rising indebtedness illustration deserves superior attention, peculiarly due to the fact that of its implications for the payment of citizens.