Tinubu urges global finance overhaul as debt costs rise
Tinubu seeks global finance reform as Nigeria's 2026 debt costs hit 11.6 billion dollars. He says high rates penalize Africa and stall industrial growth.
Xurve View
Xurve View
Nigeria President Bola Tinubu said the nation will spend $11.6B on debt servicing in 2026, consuming nearly 50% of projected government revenue. The figure represents a 125% increase from the $5.15B spent on debt obligations during 2025. Rising borrowing costs threaten to stall industrialization and infrastructure projects in Africa's most populous economy.
