Speaker of the House of Representatives, Tajudeen Abbas, has expressed concern over Nigeria’s escalating debt profile, cautioning that it has reached a level capable of undermining the country’s economic stability.
Abbas raised the alarm on Monday in Abuja while speaking at the 11th Annual Conference and General Assembly of the West Africa Association of Public Accounts Committees (WAAPAC).
He disclosed that Nigeria’s total public debt stood at ₦149.39 trillion (about $97 billion) in the first quarter of 2025, a significant increase from ₦121.7 trillion recorded the previous year.
According to the Speaker, the country’s debt-to-GDP ratio has climbed to 52 percent, surpassing the 40 percent legal threshold.
“This is no longer just a budgetary issue but a structural crisis,” Abbas warned. “We must strengthen oversight, embrace transparency, and ensure every loan we take delivers real benefits to citizens.”
