Nigeria’s external debt has risen to $51.86 billion under the administration of President Bola Tinubu, according to latest figures tracking the country’s borrowing profile.

The data shows a steady increase in external obligations as the government continues to rely on foreign financing to support budget implementation, infrastructure projects, and economic stabilisation efforts.

Officials have defended the borrowing trend, arguing that new loans are being directed toward key sectors such as power, transportation, agriculture, and social investment programmes aimed at cushioning economic reforms.

However, critics have raised concerns over the rapid rise in debt, warning that increasing repayment obligations could place further pressure on government revenue and limit fiscal flexibility in the coming years.

Economic analysts say the surge reflects a combination of new external loans, exchange rate adjustments, and the revaluation of existing debt following currency fluctuations.

The Tinubu administration has consistently maintained that borrowing remains necessary to bridge Nigeria’s infrastructure gap and support growth, especially amid ongoing subsidy removal and foreign exchange reforms.

As debt levels continue to rise, attention is expected to remain on how the government balances financing needs with long-term debt sustainability and revenue generation efforts.