The All Progressives Congress (APC) has defended Nigeria’s current debt levels, insisting they remain within sustainable limits. However, the Debt Management Office (DMO), the Labour Party, and other stakeholders have renewed calls for greater transparency in the country’s borrowing practices and documentation.
A recent audit by the Auditor-General placed Nigeria’s public debt between ₦143.5 trillion and ₦149.39 trillion, warning of risks arising from weak government revenue, rising interest rates, and exposure to foreign currency fluctuations.
The DMO stressed the need for stronger debt management frameworks, credible data, and enhanced regional cooperation, arguing that transparency is key to long-term sustainability. It further highlighted the oversight role of the media and parliament in ensuring accountability.
Meanwhile, the House of Representatives Public Accounts Committee (PAC) dismissed claims that President Bola Tinubu had been accused of reckless borrowing. The committee clarified that there is strong alignment between the Ministry of Finance and parliamentary leadership on debt management strategies and broader macroeconomic reforms.
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