IMF advises Nigeria on debt sustainability amid rising borrowing
via Punch Nigeria2 min read
The International Monetary Fund IMF has emphasized that Nigeria's increasing debt profile necessitates a focus on sustainability and repayment capacity, rather than a preference for external or domestic borrowing. Abebe Aemro Selassie, Director of the IMF's African Department, stated that borrowing decisions should be based on a comprehensive assessment of debt sustainability. This comes as Nigeria's total public debt reached N159.28tn by December 31, 2025, with both domestic and external financing used to address fiscal deficits. Selassie highlighted that the key concern is maintaining manageable debt levels relative to the country's ability to service obligations without straining public finances. He noted that effective liability management, such as extending debt maturities, can alleviate short-term repayment pressures. Nigeria's debt structure shows domestic debt at N84.85tn and external debt at N74.43tn, accounting for 46.73 percent of the total. In 2025, Nigeria spent $5.21bn on external debt servicing. Nigeria's Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has urged multilateral institutions to reduce financing costs and increase liquidity access for developing economies.
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Must ReadNigeria's Minister of Interior, Dr. Olubunmi Tunji-Ojo, stated that 30 to 50 percent of offenses committed by inmates in African correctional centers do not warrant incarceration. Speaking at a regional conference in Abuja, he urged correctional authorities to assess overcrowding, noting that 93 percent of Nigerian inmates are state offenders, many held for minor infractions. Tunji-Ojo revealed that a review of inmates held for minor fines led to the decongestion of correctional centers by five percent. He also highlighted a significant decline in recidivism in Nigeria, from 13,000 cases in 2023 to 1,000 last year, attributing this to expanded education and vocational training for inmates. The Controller General of the Nigerian Correctional Service, Sylvester Ndidi Nwakuche, emphasized Nigeria's modernization efforts through the Nigerian Correctional Service Act, 2019, and the importance of prisoner classification for rehabilitation and resource deployment. He described the conference as an opportunity for collective learning and sharing solutions among African correctional systems.
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