Nigeria’s budget hike: Growth strategy or a bigger debt burden?

Imagine trying to fix a leaky roof by borrowing more money for repairs, only to realise that most of your earnings are already going into paying off past debts. That’s where Nigeria finds itself today. The government has raised the 2025 budget from ₦49.7 trillion to ₦54.2 trillion, citing additional revenue from taxes, customs duties, and other state-owned agencies. While officials insist this will drive economic growth, many fear it will add more pressure to an already fragile financial system.

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