• Latest
  • Trending
Abbas warns against Reckless Borrowing as Nigeria’s Debt Becomes Alarming

Abbas warns against Reckless Borrowing as Nigeria’s Debt Becomes Alarming

Kwara Law Students, 2025 Set Demand Inclusion in Bursary Payout

Kwara Law Students, 2025 Set Demand Inclusion in Bursary Payout

Senate Rejects Natasha Akpoti’s Request to Resume after 6-month Suspension

Senate Rejects Natasha Akpoti’s Request to Resume after 6-month Suspension

Dino Melaye: Tinubu’s Govt may soon take loans from Opay, Moniepoint

Dino Melaye: Tinubu’s Govt may soon take loans from Opay, Moniepoint

TUC Threatens Nationwide Strike: Gives FG Ultimatum to Withraw 5% Fuel Tax

TUC Threatens Nationwide Strike: Gives FG Ultimatum to Withraw 5% Fuel Tax

DSS Gives Sowore 1-Week Ultimatum Over Post on Tinubu

DSS Gives Sowore 1-Week Ultimatum Over Post on Tinubu

Rivers APC Councillor, Olubari Denies Being 19, Says She’s 26 and Experienced

Rivers APC Councillor, Olubari Denies Being 19, Says She’s 26 and Experienced

Gunmen Kidnap Wife, Daughter of APC Chairman in Kwara

Gunmen Kidnap Wife, Daughter of APC Chairman in Kwara

Tuesday, September 9, 2025
  • Login
No Result
View All Result
iDeemlawful
  • Home
  • News
  • Featured
  • Politics
  • LifeStyle
  • Advertise with Us
  • Opinion
  • Campus
iDeemlawful
No Result
View All Result
iDeemlawful
No Result
View All Result
  • Home
  • News
  • Featured
  • Politics
  • LifeStyle
  • Advertise with Us
  • Opinion
  • Campus
Home Featured

Abbas warns against Reckless Borrowing as Nigeria’s Debt Becomes Alarming

by Abduljelil Issa
September 9, 2025
in Featured, Politics News
A A
0
Abbas warns against Reckless Borrowing as Nigeria’s Debt Becomes Alarming

The Speaker of the House of Representatives, Abbas Tajudeen, has warned that Nigeria’s rising debt profile has exceeded the country’s legal threshold and now poses a major threat to fiscal sustainability.

Abbas spoke on Monday at the opening of the 11th Annual Conference and General Assembly of the West Africa Association of Public Accounts Committees, WAAPAC, in Abuja.

The Speaker said Nigeria’s total public debt rose to N149.39 trillion (about US$97 billion) in the first quarter of 2025, up from N121.7 trillion the previous year.

He noted that the country’s debt-to-GDP ratio has climbed to 52 percent, surpassing the statutory ceiling of 40 percent.

SeeThese

Dino Melaye: Tinubu’s Govt may soon take loans from Opay, Moniepoint

President Tinubu Travels to Europe for 10-Day Annual Leave

Why Nigeria Not Afraid of Trump’s Tariffs—Tinubu

“As at the first quarter of 2025, Nigeria’s total public debt stood at N149.39 trillion, equivalent to about US$97 billion. This represents a sharp rise from N121.7 trillion the previous year, underscoring how quickly the burden has grown. Even more concerning is the debt-to-GDP ratio, which now stands at roughly 52 percent, well above the statutory ceiling of 40 percent set by our own laws,” he said.

Abbas described the breach as a signal of strain on fiscal stability and called for stronger oversight, transparent borrowing practices, and reforms to ensure loans deliver tangible economic and social benefits.

He cautioned that many African countries are already spending more on debt servicing than on healthcare and other essential services, adding that Nigeria must avoid a similar situation.

To address fiscal risks, the Speaker announced plans to establish a West African Parliamentary Debt Oversight Framework under WAAPAC.

The initiative will harmonise debt reporting across the sub-region, set transparency standards, and equip parliaments with data to scrutinise borrowing.

He also disclosed plans for a regional capacity-building programme to strengthen debt sustainability analysis and fiscal risk assessment.

Abbas stressed that borrowing should be targeted at infrastructure, health, education, and industries that create jobs and reduce poverty, warning that reckless debt driven by consumption or corruption must be rejected.

He reaffirmed the 10th House’s commitment to accountability, saying that under its Open Parliament policy, major borrowing proposals will undergo public hearings, while simplified debt reports will be made available to citizens.

Tags: House of RepresentativesLoanNigeria GovernmentTajudeen Abass
Share198Tweet124SendShare
Previous Post

TUC Threatens Nationwide Strike: Gives FG Ultimatum to Withraw 5% Fuel Tax

Next Post

Dino Melaye: Tinubu’s Govt may soon take loans from Opay, Moniepoint

Abduljelil Issa

Abduljelil Issa

Next Read

Senate Rejects Natasha Akpoti’s Request to Resume after 6-month Suspension
Featured

Senate Rejects Natasha Akpoti’s Request to Resume after 6-month Suspension

...

Read more
Dino Melaye: Tinubu’s Govt may soon take loans from Opay, Moniepoint
Politics News

Dino Melaye: Tinubu’s Govt may soon take loans from Opay, Moniepoint

...

Read more
DSS Gives Sowore 1-Week Ultimatum Over Post on Tinubu
Breaking News

DSS Gives Sowore 1-Week Ultimatum Over Post on Tinubu

...

Read more
Rivers APC Councillor, Olubari Denies Being 19, Says She’s 26 and Experienced
Politics News

Rivers APC Councillor, Olubari Denies Being 19, Says She’s 26 and Experienced

...

Read more
18-Month to 2027 Guber Succession: Tensions Shake Lagos, Ogun, Kwara, and More
Featured

18-Month to 2027 Guber Succession: Tensions Shake Lagos, Ogun, Kwara, and More

...

Read more
DSS Gives X 24 Hours to Delete Sowore’s Post calling Tinubu ‘Criminal’
Politics News

DSS Gives X 24 Hours to Delete Sowore’s Post calling Tinubu ‘Criminal’

...

Read more
President Tinubu Travels to Europe for 10-Day Annual Leave
Featured

President Tinubu Travels to Europe for 10-Day Annual Leave

...

Read more
ADC Slams Remi Tinubu Over Birthday Donation, says ‘National Library Isn’t Your Pet Project’
Politics News

ADC Slams Remi Tinubu Over Birthday Donation, says ‘National Library Isn’t Your Pet Project’

...

Read more
Next Post
Dino Melaye: Tinubu’s Govt may soon take loans from Opay, Moniepoint

Dino Melaye: Tinubu's Govt may soon take loans from Opay, Moniepoint

Senate Rejects Natasha Akpoti’s Request to Resume after 6-month Suspension

Senate Rejects Natasha Akpoti’s Request to Resume after 6-month Suspension

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Why NNPC Refineries May Never Work Again – Dangote

Why NNPC Refineries May Never Work Again – Dangote

Reactions Trail Portable’s Disqualification From Headies Award 2022

Reactions Trail Portable’s Disqualification From Headies Award 2022

NIS Arrests ‘fleeing’ Bobrisky at Seme Border

NIS Arrests ‘fleeing’ Bobrisky at Seme Border

Most Popular

Kwara Law Students, 2025 Set Demand Inclusion in Bursary Payout
Campus News

Kwara Law Students, 2025 Set Demand Inclusion in Bursary Payout

Senate Rejects Natasha Akpoti’s Request to Resume after 6-month Suspension
Featured

Senate Rejects Natasha Akpoti’s Request to Resume after 6-month Suspension

Dino Melaye: Tinubu’s Govt may soon take loans from Opay, Moniepoint
Politics News

Dino Melaye: Tinubu’s Govt may soon take loans from Opay, Moniepoint

iDeemlawful

Copyright © 2019 iDeemlawful.

Useful Links

  • About Us
  • Advertise with Us
  • Editorial Policy

Follow Us

Copyright © 2019 iDeemlawful.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In