Skip to content

2023 Election: Nigerian next President to spend N24.trn Repaying Loan

Amid politicking on who will be the next president of Nigeria, details have emerged that Nigeria’s next president will be burdened with over N24.7 trillion in debt service in the first three years.

The projected amount to be spent by the FG in 2025 on debt service is more than the total budget size of previous years since Nigeria gained independence, except for 2021 and 2022.

The FG of Nigeria is targeting to spend N10.4 trillion on debt servicing by 2025.

Source: Ripples Nigeria