Nigeria’s high debt service is a result of past borrowing - Wale Edun
[NigerianEye - Nigeria] - 28/10/2025
Wale Edun, minister of finance and coordinating minister of the economy, says Nigeria’s heavy debt service costs are a result of past borrowing. In an op-ed on Monday, Edun noted that despite the progress made, tough realities persist, particularly heavy debt service costs that consume a larger-than-ideal share of Nigeria’s revenues. “This is the consequence of past borrowing and elevated interest rates. At the same time, Nigeria’s fiscal revenue-to-GDP ratio, at about 10 per cent after rebasing, remains one of the lowest in Africa,” he said. “This limits government resources for essential (…)
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