By our reporter 23.5.2026
President Bola Tinubu in three years have driven Nigeria into debts more than any other President did in 60 years.
According to a policy report by Alliance for Economic Research and Ethics LTD/GTE the nation between 2023 and 2026 is indebted to the tune of up N159.28 trillion in debt up from N87.38 trillion in 2023. Tinubu’s administration accounted for about N65.9 trillion of that increase within its first two years in office.
The report warns that Nigeria is heading into serious fisical crisis is the borrowing trend is not reversed, saying that Nigeria accumulated about N12.06 trillion in public debt between 1960 and 2015, while the current administration added more than five times that amount in only two years.
According to the report Nigeria had an opportunity to reset its finances after former President Olusegun Obasanjo secured debt relief from the Paris Club in 2005 and paid off a major part of the country’s external obligations.
But under President Goodluck Jonathan Nigeria’s debt had reached N12.06 trillion, although debt servicing was still within a manageable range. The Report added that the debt stock rose sharply under former President Muhammadu Buhari, moving from N12.06 trillion in 2015 to N87.38 trillion by June 2023.
