The Federal Authorities has defined that Nigeria’s N152 trillion public debt is basically pushed by improved transparency and international trade changes, not a surge in new borrowing.
The reason was offered by the Honourable Minister of Finance and Coordinating Minister of the Financial system, Mr. Wale Edun, throughout the launch of the Nigerian Financial Summit Group (NESG) 2026 Macroeconomic Outlook Report in Lagos.
The clarification seeks to handle public considerations by breaking down the elements of the debt improve and highlighting the affect of latest fiscal and trade fee reforms.
What they’re saying
In a assertion issued on Thursday by Particular Adviser on Communications, Media and Publicity to the Minister of Finance, Dr. Ogho Okiti, he mentioned: “The Honourable Minister of Finance and Coordinating Minister of the Financial system clarified that the N152 trillion public debt determine is basically the results of transparency and trade fee correction, not extreme new borrowing.”
- In response to the Finance Ministry, about N30 trillion of the overall public debt represents beforehand unrecognised Methods and Means advances which have now been formally captured within the authorities’s books.
- These obligations, which had accrued over a number of years, had been recorded in keeping with improved transparency and accountability requirements.
- The assertion additional defined that almost N49 trillion of the rise in public debt resulted from the revaluation of Nigeria’s international debt following latest international trade reforms.
This adjustment displays modifications within the trade fee quite than the buildup of recent exterior loans.
Edun burdened that the up to date debt figures should not the results of reckless borrowing however a correction of long-standing fiscal reporting gaps.
He added that correct information is crucial for efficient financial planning and restoring investor confidence.
The Minister reiterated that the administration stays dedicated to accountable debt administration, fiscal self-discipline, and sustainable financial development.
He emphasised that ongoing reforms are designed to strengthen public finance administration and enhance the credibility of Nigeria’s fiscal information.
Edun additionally disclosed that Nigeria recorded an 84% execution fee of its 2024 capital funds.
He defined that the extension of the funds implementation interval to March 2026 was essential to accommodate ongoing initiatives and deal with funding challenges, significantly for vital infrastructure.
In response to him, the extension will be sure that precedence growth initiatives are accomplished quite than deserted, regardless of the prevailing fiscal constraints.
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