FG plans to spend more on debt servicing, capital expenditures

11/19/2024

The Federal Government has outlined plans to allocate a significant portion of its budget to debt servicing over the next three years, surpassing investments in capital expenditure.

This was revealed in the recently approved 2025–2027 Medium-Term Expenditure Framework and Fiscal Strategy Paper.

According to the document, debt servicing costs are projected to reach N50.39 trillion between 2025 and 2027, exceeding the N48.93 trillion earmarked for capital expenditures.

The report highlights a 26.7% increase in annual debt servicing costs, rising from N15.38 trillion in 2025 to N19.49 trillion in 2027.

Comparatively, the Federal Government spent N8.56 trillion on debt servicing in 2023, signaling a sharp 127.7% surge over four years.

Written by: bossgmsi

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