The African Democratic Congress has accused the Federal Government of pursuing what it described as an unsustainable borrowing policy, warning that the country’s rising debt profile could push Nigeria into bankruptcy if the trend continues.
The National Publicity Secretary of the ADC, Bolaji Abdullahi, stated this while reacting to a report that Nigeria’s total public debt stock rose to N159.35tn at the end of March 2026, increasing by almost N10tn within one year, according to the Debt Management Office.
Bolaji said the Federal Government’s increasing debt profile and the current level of debt servicing had severely constrained the country’s finances and its ability to execute development projects.
An analysis of the DMO data by Saturday PUNCH on Friday showed that the country’s debt increased by N9.96tn, or 6.67 per cent, from N149.39tn recorded at the end of March 2025 to N159.35tn one year later.
In dollar terms, the increase was considerably higher at 18.22 per cent, with the debt stock rising by $17.72bn from $97.24bn to $114.95bn over the period.
