Nigeria’s fiscal outlook is facing scrutiny as rapid government borrowing and rising debt-service costs tighten public finances and constrain private-sector access to credit. With the federal government dominating the domestic debt market to plug persistent budget deficits, economists warn that businesses—from small firms to large manufacturers—are being priced out of much-needed capital. Nigeria’s total domestic debt climbed to N84.8 trillion as of December 2025, according to data from the Debt Management Office. Analysts say the growing
Nigeria’s fiscal outlook is facing scrutiny as rapid government borrowing and rising debt-service costs tighten public finances and constrain private-sector access to credit. With the federal government dominating the domestic debt market to plug persistent budget deficits, economists warn that businesses—from small firms to large manufacturers—are being priced out of much-needed capital. Nigeria’s total domestic debt climbed to N84.8 trillion as of December 2025, according to data from the Debt Management Office. Analysts say the growing