Abuja, Nigeria – September 8, 2025
The Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, has issued a stark warning over Nigeria’s growing debt profile, describing it as “alarming” and urging the federal government to immediately halt what he termed “reckless borrowing.”
Speaking during a plenary session on Tuesday, Speaker Abbas stressed the urgent need for fiscal discipline, cautioning that the current trajectory of the nation’s borrowing could plunge future generations into unsustainable economic hardship.
“Nigeria’s debt situation is deeply concerning. We must reject this culture of reckless borrowing that mortgages our children’s future. It’s time to draw the line,” Abbas stated.
The Speaker’s remarks come amidst increasing public concern over Nigeria’s rising debt levels, which, according to the latest figures from the Debt Management Office (DMO), have surged past ₦90 trillion, a sharp increase driven by both external and domestic borrowing.
Abbas emphasized that while borrowing can be a useful tool for development, it must be tied to productive projects and managed with transparency and accountability. He called on fellow lawmakers to scrutinize all loan requests more rigorously moving forward.
Economists and financial analysts have echoed similar concerns in recent months, warning that Nigeria’s growing debt service obligations could crowd out investment in critical sectors such as education, healthcare, and infrastructure.
The Speaker’s comments are expected to spark renewed debate within the National Assembly and among policy stakeholders over the sustainability of Nigeria’s fiscal policies.
This is a developing story. More updates to follow.
