Abuja, Nigeria — Nigeria has made significant progress in debt management, reducing its debt servicing burden from 96% of its 2023 revenue to 67% under President Bola Tinubu’s administration.
The announcement was made by Mr. Benjamin Kalu, Deputy Speaker of the House of Representatives, during the 2025 Inter-Parliamentary Union (IPU) and United Nations General Assembly (UNGA) Parliamentary Hearing in New York.
Speaking at a session titled “The Debt Crisis and the SDGs: Proposals for Sustainable Solutions,” Kalu highlighted Nigeria’s fiscal achievements and the role of the National Assembly in strengthening economic policies through legislative oversight.
“The reduction in debt servicing is a testament to Nigeria’s commitment to responsible fiscal management and sustainable economic growth,” Kalu stated.
He underscored that this achievement has created more fiscal space for strategic investments in critical sectors, including health, education, and infrastructure, some key areas for advancing the Sustainable Development Goals (SDGs).
The Deputy Speaker further emphasized that Nigeria’s economic reforms are directly aligned with the SDGs, reinforcing the country’s efforts to combat poverty, enhance social welfare, and foster national prosperity.
Beyond domestic reforms, Kalu reiterated Nigeria’s call for international cooperation in addressing the global debt crisis. He noted that sustainable development requires a collaborative approach, urging global stakeholders to support initiatives that promote financial stability and equitable economic policies.
As Nigeria continues to prioritize economic sustainability, the government remains focused on policies that enhance growth, reduce financial vulnerabilities, and secure a prosperous future for all citizens.
By Taiwo Olatinwo| February 17, 2025
Discover more from DnewsInfo
Subscribe to get the latest posts sent to your email.
