Federal Government don borrow ₦17.36 trillion from both local and foreign sources inside the first ten months of 2025, wey don pass the borrowing target for the year by 55.6 percent.
Report from Debt Management Office (DMO) and Central Bank of Nigeria (CBN) show say the amount wey FG borrow pass the ₦10.9 trillion wey dem plan for the first ten months of the year. The whole year budget talk say FG go borrow ₦13.08 trillion, but the government don already collect more than that.
Inside the money, ₦15.8 trillion come from local borrowing, while ₦1.56 trillion come from foreign sources. FG still wan borrow another $2.35 billion (₦3.38 trillion) through Eurobond, wey go push the total borrowing close to ₦21 trillion.
Analysts don warn say the plenty borrowing fit put Nigeria for debt wahala, reduce investor confidence, and make it hard for private business people to collect loan from banks.
Andrew Uviase from Ecovis OUC talk say the borrowing wahala show “lack of fiscal discipline” while David Adonri from Highcap Securities say “government addiction to debt don turn to habit.”
Dem say this kain borrowing go make interest rate high, affect small businesses, and make cost of living worse.
The experts also warn say Nigeria no dey follow the IMF advice to control debt and reduce deficit. Dem beg government to find better way to raise non-oil money, reduce wasteful spending, and borrow from cheaper, long-term foreign sources instead of disturbing local banks.
