Nigeria's Debt Burden Hinders Education, Healthcare Investment - VP Shettima at UNGA

VP Kashim Shettima, delivering President Tinubu's statement at the 81st UNGA in New York on September 25, 2026, warned that heavy debt servicing is preventing Nigeria from adequately investing in education, healthcare, and infrastructure. He stated many developing countries spend substantial resources on debt payments instead of funding critical sectors needed for sustainable development.

This directly affects Nigerians' daily lives: when government revenue goes primarily to foreign debt collectors, there's less money for schools that educate children, hospitals that treat sick citizens, and roads that connect farmers to markets. The opportunity cost manifests as overcrowded classrooms, understocked clinics, and poor transportation networks that limit economic activity in communities nationwide.

Shettima called for reforming the international financial system to make financing more accessible, including wider access to concessional loans and alternative models like blended finance and South-South cooperation. He stressed debt sustainability assessments must prioritize development needs. Nigerians should monitor whether upcoming fiscal policies prioritize debt reduction to free up funds for tangible local improvements in education, healthcare, and infrastructure.

SOURCE: https://dailypost.ng/2026/09/25/unga-debt-servicing-holding-back-nigerias-development-shettima/