Analyst Claims Tinubu Govt Borrowing to Repay Existing Debt

Financial analyst Kalu Aja alleged on X that President Bola Tinubu’s administration is borrowing money to repay existing debts, comparing it to Tafawa Balewa’s borrowing for the Kainji Dam. He noted that while Balewa borrowed to build infrastructure, Tinubu is borrowing to service debt. According to the Debt Management Office, Nigeria’s total public debt stood at ₦159 trillion at the end of 2025, and recent borrowings approved by the National Assembly have pushed the figure higher. In April 2026, Tinubu sought Senate approval for a $516.3 million loan from Deutsche AG, following earlier requests for a $6 billion loan from Abu Dhabi Bank and a $1 billion loan from the United Kingdom via Citibank. Former Vice President Atiku Abubakar warned that the $6 billion request was dangerous. Rising debt raises concerns about fiscal sustainability, potential pressure on the naira, and future tax or service cuts to meet repayments. Citizens should monitor how loan terms are disclosed, consider the impact on public spending, and engage in discussions about borrowing limits and fiscal responsibility.

SOURCE: https://dailypost.ng/2026/08/04/debt-profile-tinubu-borrowing-to-repay-debts-analyst-alleges/