Nigeria Solves Subsidy Woes, But New Debt Problem Emerges – Financial Expert Adebajo Reveals

Nigeria Solves Subsidy Woes, But New Debt Problem Emerges – Financial Expert Adebajo RevealsFinancial expert Tilewa Adebajo has raised concerns about Nigeria’s escalating debt, warning that the country’s financial obligations are becoming unsustainable. He explained that while the government successfully removed the fuel subsidy, it has created a new problem—soaring debt levels.....KINDLY READ THE FULL STORY HERE▶

Adebajo pointed out that the largest portion of Nigeria’s 2025 budget, valued at N49.7 trillion, is allocated for debt servicing. He emphasized the need for the country to tackle its growing debt profile to achieve sustainable economic growth.

“We have resolved the subsidy issue, but now we face a debt problem,” Adebajo stated during an interview on Arise News. “With debt nearing N150 trillion and annual debt servicing costs at N16 trillion, equivalent to nearly $10 billion, we’ve essentially swapped subsidy payments for debt.”

He proposed that Nigeria must grow its economy at 8% annually and sell assets to raise funds to reduce debt and ease the burden of servicing these loans.

Adebajo concluded by stressing that without addressing the debt crisis, Nigeria’s economy will continue to struggle in achieving long-term stability and growth.