Nigeria’s Debt to Hit N162trn As President Seeks N17trn Loans

Nigeria’s public debt profile will rise to N162.025 trillion as President Bola Ahmed Tinubu has sought the National Assembly’s approval for fresh loans’.

The president requested the legislature to approve new borrowing plans totaling $21.5 billion, along with €2.19 billion, 15 billion Japanese yen and a €65 million grant, as part of the federal government’s 2025-2026 borrowing framework.

Using the current official exchange rate as of May 27, 2025 at N650 to $1; the proposed borrowings of $21…