Economic Policies & Public Debt

Finance Minister on National Debt Surge: Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, addressed the Senate regarding Nigeria’s debt profile. He explained that recent spikes in the total figure were primarily driven by the revaluation of external debt caused by local currency (naira) depreciation—adding over ₦40 trillion alone—alongside the formal securitisation of ₦33 trillion in inherited Ways and Means advances, rather than extensive new borrowing.