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Rizzydewalters
94 days agoNigeria Pays the Price of Debt and Salaries
In 2025, Nigeria will spend over ₦24.8 trillion on debt servicing and public sector wages—more than half its entire budget. Debt alone accounts for ₦16.3 trillion, a result of years of borrowing, high interest rates, and a weakening naira. Personnel costs take another ₦8.5 trillion, leaving little room for investment in infrastructure, education, or healthcare. With total debt projected to hit ₦187.8 trillion by year’s end, experts warn of a looming fiscal crisis. Without urgent reforms and stronger revenue generation, Nigeria risks borrowing simply to pay interest—sliding into an unsustainable debt trap.