The Federal Government of Nigeria has surpassed its 2025 borrowing target by a staggering 55.6%, accumulating a total of ₦17.36 trillion in loans from both domestic and foreign sources within the first 10 months of the year.
This figure, disclosed in the latest fiscal report, reflects rising debt obligations amid efforts to fund budget deficits, infrastructure projects, and social programs. Analysts warn that the surge in borrowing could strain Nigeria’s debt servicing capacity and increase fiscal vulnerability.
Breakdown:
- Domestic borrowing: ₦11.16 trillion
- Foreign borrowing: ₦6.2 trillion
- Target for 2025: ₦11.16 trillion (already exceeded)
The Debt Management Office (DMO) has yet to release a revised borrowing plan, but officials say the government is exploring non-debt financing options to ease pressure on public finances.
