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Debt Servicing Consumes Nearly 27% Of Tinubu’s ₦58.18 Trillion 2026 Budget As PDP Warns Of Rising Poverty, Hardship And Fiscal Crisis
President Bola Tinubu has presented a ₦58.18 trillion 2026 Appropriation Bill to the National Assembly, with ₦15.52 trillion allocated to debt servicing—about 26.7% of the total budget. The proposal, titled “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” earmarks ₦26.08 trillion for capital expenditure and ₦15 trillion for recurrent (non-debt) spending. The Peoples Democratic Party (PDP) has sharply criticised the budget, describing it as one that deepens poverty and economic hardship despite claims of a 3.98% GDP growth rate. Citing World Bank data, the PDP argued that over 30.9% of Nigerians still live below the extreme poverty line, warning that growth without inclusiveness has failed to improve living standards. The opposition also raised concerns over debt burden, security spending efficiency, and the alleged concurrent operation of multiple budgets, calling for greater transparency, accountability, and fiscal discipline as lawmakers begin scrutiny of the proposal.
President Bola Tinubu has presented a ₦58.18 trillion 2026 Appropriation Bill to the National Assembly, with ₦15.52 trillion allocated to debt servicing—about 26.7% of the total budget. The proposal, titled “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” earmarks ₦26.08 trillion for capital expenditure and ₦15 trillion for recurrent (non-debt) spending. The Peoples Democratic Party (PDP) has sharply criticised the budget, describing it as one that deepens poverty and economic hardship despite claims of a 3.98% GDP growth rate. Citing World Bank data, the PDP argued that over 30.9% of Nigerians still live below the extreme poverty line, warning that growth without inclusiveness has failed to improve living standards. The opposition also raised concerns over debt burden, security spending efficiency, and the alleged concurrent operation of multiple budgets, calling for greater transparency, accountability, and fiscal discipline as lawmakers begin scrutiny of the proposal.
Debt Servicing Consumes Nearly 27% Of Tinubu’s ₦58.18 Trillion 2026 Budget As PDP Warns Of Rising Poverty, Hardship And Fiscal Crisis
President Bola Tinubu has presented a ₦58.18 trillion 2026 Appropriation Bill to the National Assembly, with ₦15.52 trillion allocated to debt servicing—about 26.7% of the total budget. The proposal, titled “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” earmarks ₦26.08 trillion for capital expenditure and ₦15 trillion for recurrent (non-debt) spending. The Peoples Democratic Party (PDP) has sharply criticised the budget, describing it as one that deepens poverty and economic hardship despite claims of a 3.98% GDP growth rate. Citing World Bank data, the PDP argued that over 30.9% of Nigerians still live below the extreme poverty line, warning that growth without inclusiveness has failed to improve living standards. The opposition also raised concerns over debt burden, security spending efficiency, and the alleged concurrent operation of multiple budgets, calling for greater transparency, accountability, and fiscal discipline as lawmakers begin scrutiny of the proposal.
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