Nigeria’s public debt has climbed to N149.39 trillion, surpassing the legal debt-to-GDP threshold, Speaker Abbas Tajudeen warned at a WAAPAC conference in Abuja.
The Speaker of the House of Representatives, Abbas Tajudeen, has raised concerns over Nigeria’s rising debt profile, warning it has exceeded the statutory threshold and threatens fiscal stability.
Speaking at the 11th Annual Conference of the West Africa Association of Public Accounts Committees (WAAPAC) in Abuja, Abbas revealed that Nigeria’s total public debt hit N149.39 trillion (about $97 billion) in Q1 2025, up from N121.7 trillion last year.
“Even more concerning is the debt-to-GDP ratio, which now stands at roughly 52 percent, well above the statutory ceiling of 40 percent,” he said.
Abbas urged stronger oversight, transparent borrowing, and reforms to ensure loans fund infrastructure, education, and job creation, not consumption or corruption. He announced plans for a West African Parliamentary Debt Oversight Framework to improve transparency and debt sustainability across the region.
The Speaker also pledged public hearings on major borrowing proposals under the House’s Open Parliament policy.