Debt Servicing Eclipses Social Spending Five Times Over - ActionAid

Debt Servicing Eclipses Social Spending Five Times Over – ActionAid

Nigeria spends nearly five times more of its national revenue on servicing external debts than on healthcare and education combined. A damning report by ActionAid International and ActionAid Nigeria revealed the fiscal imbalance on Tuesday. The advocacy group directly accused the International Monetary Fund of pushing hostile policies that deliberately undermine social development. The country…

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Nigeria Eyes N25.27tn Deficit as 2026 Budget Looms.

Nigeria Eyes N25.27tn Deficit as 2026 Budget Looms.

  ABUJA — The Nigerian Senate officially confirmed yesterday that the nation must embrace fresh borrowings to sustain the 2026 fiscal cycle. Senator Solomon Adeola, Chairman of the Senate Committee on Appropriations, announced this during a public hearing in the capital. The proposed budget estimates total expenditure at N58.47 trillion, significantly outpacing the projected revenue…

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