Many Nigerians have continued to raise concerns over the Federal Government’s borrowing spree in spite of claims that revenue generation has increased.

The News Agency of Nigeria (NAN) reported that the National Assembly recently approved President Bola Tinubu’s request to borrow N1.15 trillion from the domestic debt market to finance the 2025 budget deficit.

The legislators said that the 2025 budget provided for total expenditure of N59.99 trillion, an increase of N5.25 trillion from the initial N54.74tn proposed by the executive.

They said the expansion created a total budget deficit of N14.10 trillion, out of which N12.95 trillion had already been approved for borrowing.

Data from the Debt Management Office (DMO) showed that as of June, Nigeria’s total public debt stood at N152.4 trillion, made up of N71.85 trillion external and N80.55 trillion domestic debt.

Senator Olamilekan Adeola, chairman of the Senate Committee on Appropriations, said most of the loan requests had already been factored into the Medium-Term Expenditure Framework and the 2025 budget.

“The borrowing is already embedded in the 2025 Appropriation Act.

“With this approval, we now have all revenue sources, including loans in place to fully fund the budget,” Adeola said.

Senator Sani Musa, chairman of the Senate Committee on Finance, said that the borrowings aligned with global economic practices.

“There is no economy that grows without borrowing. What we are doing is in line with global best practices,” he said.

However, Senator Abdul Ningi said that Nigerians deserved to know the specifics of the loans and their intended impact.

Some experts said that Nigeria’s debt service burden could worsen due to the new borrowing plans.

Dr Muda Yusuf,  chief executive officer, Centre for the Promotion of Private Enterprise, said that Nigeria’s rising debt service burden was already outpacing capital expenditure.

Yusuf said that it could begin to crowd out essential government functions if not properly managed.

He said that there was a need for the government to focus more on revenue growth and fiscal consolidation than piling on new debts.

“Debt service is already far more than the appropriation for capital spending, and the trend is worrying.

“We need to tread very cautiously with respect to debt commitments,” he said.

Yusuf said that Nigeria was spending far beyond its means, with more than 80 per cent of government revenue now devoted to debt servicing.

“We are borrowing primarily to fund consumption and recurrent expenditure rather than productive capital projects.

“This path will only deepen the fiscal crisis if urgent reforms are not undertaken,” he said.

Vahyala Kwaga, deputy country director at BudgIT,  said the Federal Government’s plan to take on new loans risked breaching Nigeria’s debt threshold.

Kwaga said that the government needed to demonstrate far more transparency and accountability on how it had expended previous debts.

Bismarck Rewane, chief executive officer (CEO), Financial Derivatives Company, said that increased domestic borrowing could crowd out private investment.

According to Rewane, the government’s rising appetite for local debt will push up interest rates and reduce access to credit for businesses.

Rewane also said that the borrowing spree may fuel inflationary pressures.

Meanwhile, the DMO said that Nigeria’s public debt remained sustainable.

Speaking at the recently held Nigerian Economic Summit in Abuja, Patience Oniha, director-general of the DMO, said that the country’s debt-to-Gross Domestic Product ratio was currently about 40 per cent.

Oniha said that it was well below the 70 per cent international benchmark for emerging economies.

According to her, in spite growing public concern about Nigeria’s debt profile, the country’s borrowing level is not excessive by global standards.

IHS Nigeria, the largest communications infrastructure company in Nigeria and part of the IHS Holding Limited (NYSE: IHS) (“IHS Towers”) group, , and the Health Services and Environment Secretariat (HSES) of the Federal Capital Territory (FCT), Abuja, have commenced the distribution of smart cooking gasses to underserved households in the FCT under the  Breathe Clean Air Abuja Campaign.

This initiative aimed at promoting clean household energy and increasing public awareness on the health impacts of air pollution in the FCT was recently launched at the Kashim Shettima Hall, Bola Ahmed Tinubu International Conference Centre, following an earlier MOU signing between both organisations in September and underscores IHS Nigeria’s continued commitment to promoting sustainable energy adoption and strengthening environmental health standards across Nigeria.

This initiative aligns with IHS Nigeria’s broader sustainability agenda especially the ‘our people and community’ and ‘environment and climate change’ pillars, particularly its focus on adopting cleaner energy across its operations and improving environmental health outcomes in host communities. IHS Towers, the Holding company has set a target to reduce the company’s kilowatt-hour emissions intensity by approximately 50% by 2030.

In his remarks, the Chief Executive Officer of IHS Nigeria, Mohamad Darwish, spoke about the everyday realities of smoke exposure and the importance of transitioning to healthier cooking options.

“When you think about how much smoke our mothers and sisters inhale while cooking every day, you immediately understand why this project matters. If we can help thousands of families breathe cleaner air, we should all be proud to be part of it,” he said.

Darwish noted that discussions with the Mandate Secretary of the FCT-HSES made it clear that the initiative is designed to grow beyond this first rollout, with future phases expected to attract government funding as well as private-sector support.

In her keynote address, the Mandate Secretary of FCT-HSES, Dr. Adedolapo Fasawe, highlighted the growing impact of both indoor and outdoor air pollution on the health outcome of households, particularly women and children. She cautioned that prolonged exposure to smoke from firewood and charcoal continues to contribute to respiratory illnesses including lung cancer and other health conditions.

Dr. Fasawe described the programme as the start of a multi-phase effort to promote cleaner energy alternatives across the FCT. She also unveiled the Sustainability Champions Initiative, a youth-focused platform that will drive advocacy and environmental education in schools and communities.

Representing the legislature, Hon. Dr. Emil Inyang, Chairman of the House Adhoc Committee on FCT Health, commended IHS Nigeria for its commitment to the initiative and pledged to support the inclusion of the programme in the 2026 FCT budget. He later led the symbolic presentation of gas cylinders to selected beneficiaries.

The Permanent Secretary, FCT-HSES, Dr. Babagana Adams, also delivered a goodwill message, acknowledging IHS Nigeria’s support and reaffirming the Secretariat’s commitment to improving public health outcomes across the FCT.

A key highlight of the event was the announcement by IHS Nigeria of a six-month LPG refill support for all beneficiaries of the gas cylinders distributed at the launch.

The ceremony concluded with a demonstration of the clean-cooking equipment, and distribution to beneficiaries including some members of the disabled community.

His Royal Highness Prince Edward, The Duke of Edinburgh, on Monday commenced a week-long series of engagements in Lagos and Abuja aimed at expanding the reach of the Duke of Edinburgh’s International Award across the globe.

Duke of Edinburgh, Bagshot Park

The Duke, who serves as Chairman of the Award Foundation, is convening nearly 200 young leaders from over 50 countries, alongside hundreds of global policymakers, educators, and youth advocates.

The gathering marks the triennial Forum of the Award, with a focus on increasing access to non-formal education and youth development programmes.

Speaking at the opening ceremony, Prince Edward emphasized the importance of equipping young people with skills beyond the classroom. “The Award is not just a programme—it is a movement that empowers youth to become resilient, creative, and ready for the world,” he said.

The event features a three-day youth leadership programme, followed by strategic sessions with government officials, development agencies, and education stakeholders.

The Duke is expected to meet with President Bola Tinubu in Abuja and attend events hosted by the Governor of Lagos and the British Deputy High Commissioner.

Participation in the Award has surged globally, with over 1.2 million young people involved in the past year. Nigeria recorded a 37 per cent increase in participation, making it one of the fastest-growing countries in the programme.

Mr. Martin Houghton-Brown, Secretary General of the Award, said the initiative is helping young people develop the “human edge” in an increasingly digital world. “From teamwork to determination, the Award is shaping a generation that is World Ready,” he said.

British Deputy High Commissioner, Mr. Jonny Baxter, commended Nigeria’s youth and reform efforts. “Nigeria’s success matters deeply to the UK. We are proud to support initiatives that unlock the potential of its young people,” he said.

The Duke of Edinburgh’s International Award, which turns 70 next year, has generated over £1 billion in social value through volunteering, improved health, and community engagement, according to a PwC analysis.