FG Defends Borrowing, Says Debt Has Not Exceeded CBN Legal Threshold

Speaking at the 2025 KPMG/Arise News Budget Programme, Bagudu emphasized that Nigerians are already benefiting from the key reforms introduced by President Bola Tinubu’s administration. He cited the stabilization of the foreign exchange market and a decline in food inflation as clear indicators of the positive impact of these policies.

Addressing concerns over Nigeria’s rising debt, the minister reassured the public that the government remains committed to staying within its legal borrowing limits, particularly concerning domestic sources. He further highlighted plans to explore innovative financing methods, including local bonds and external loans, to meet fiscal demands.

Bagudu also noted that asset sales, which the government supports, would only occur when market conditions are favorable to maximize value.

On food security, he stated that the administration has tackled insecurity challenges that previously hindered farmers from accessing their lands, leading to increased food production and a reduction in food inflation. He further pointed to the relative stability in the foreign exchange market and the slowdown in headline inflation as proof that the government’s economic policies are yielding results.