TheStreetNewspaper don gather beta gist from National Assembly wey show say Speaker of House of Reps, Abbas Tajudeen, raise serious alarm say Nigeria debt matter don waka pass danger level.
On Monday, for Abuja, during di 11th Annual Conference of West Africa Association of Public Accounts Committees (WAAPAC), Abbas yan say Naija total debt don climb reach ₦149.39 trillion (about $97 billion) as of first quarter of 2025. Dis one na sharp rise from ₦121.7 trillion wey we owe last year.
According to am, di wahala no just be di big figure alone, but say our debt-to-GDP ratio don jump reach 52%, wey don pass di 40% ceiling wey Naija law gree.
Abbas warn say di kain reckless borrowing dey shake Nigeria economy wella, because we dey spend more money to service debt pass wetin we dey put for health, education and other important sectors.
“Borrowing suppose dey build road, school, hospital, and industries wey go provide jobs. But if na borrow to chop, flex or do corruption, e go scatter di future of our pikin dem,” Abbas yan.
Di Speaker come announce say Naija go lead for West Africa to set up Parliamentary Debt Oversight Framework, wey go make all countries dey report debt matter with better transparency, plus give parliaments beta tools to checkmate reckless borrowing.
He also talk say under di Open Parliament Policy, any new borrowing plan go face public hearing before dem approve am.
Di WAAPAC conference bring together MPs from across West Africa, experts and development partners, under di theme: “Strengthening Parliamentary Oversight of Public Debt.” Abbas beg dem make dem reason well, because di resolutions fit save Africa from debt wahala.
