Nigeria’s expenditure and debt servicing have significantly increased over the past two years, according to financial expert Kalu Aja. President Bola Tinubu’s administration has seen a rise in expenditure from N6 trillion to N34 trillion and debt servicing from N7 trillion to N12 trillion. Aja disclosed this information on his X account, citing data from the Budget Office.

During the same period, President Tinubu’s administration has also managed to double Nigeria’s revenue from N7.7 trillion to N20.9 trillion. Aja notes that this increase in revenue is unprecedented, with no previous Nigerian president achieving such a significant rise in revenues in a short span of 24 months.

The increased spending and borrowing have contributed to a significant rise in Nigeria’s total debt profile. As of June 2025, the country’s total debt stood at N152 trillion, according to data from the Debt Management Office. This development comes after the Minister of Finance, Wale Edun, announced that Nigeria missed its 2025 revenue target.

Aja’s comments highlight the significant changes in Nigeria’s financial landscape under President Tinubu’s administration. The increased expenditure and borrowing have raised concerns about the country’s fiscal sustainability. With the debt profile continuing to rise, it remains to be seen how the administration will manage the country’s finances in the coming months.

The Nigerian government’s ability to manage its debt and expenditure will be crucial in determining the country’s economic trajectory. As the country navigates its financial challenges, it is essential to monitor the government’s fiscal policy and its impact on the economy. The latest developments in Nigeria’s financial sector will likely be closely watched by international observers and investors, given the country’s significance in the African economy.