Fresh fiscal analysis indicates a worsening debt strain on the nation’s economy, as debt interest obligations significantly outpaced federal revenues during the first half of the year.
Data released by global economic monitors reveals that the Federal Government directed N7.7 trillion toward interest payments between January and June, surpassing total generated revenue of N6.2 trillion by 124.2 per cent.
Financial analysts attribute the growing disparity to escalating domestic borrowing costs alongside foreign exchange adjustments affecting external debt servicing obligations.
The figures highlight a widening deficit gap, raising concerns over fiscal sustainability and the government’s ability to fund essential infrastructure projects and public services without further borrowing.
Economic advisors have recommended expanding domestic revenue mobilization, limiting expensive debt instruments, and prioritizing concessional financing to curb escalating interest liabilities.
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