Market women, university students and other civil society groups have protested at the Federal Ministry of Finance over Nigeria’s rising debt profile and continued borrowing by the federal government.
The protesters, who gathered at the Ministry’s premises as early as 9am, called on the government to reconsider further borrowing and urged the World Bank and the International Monetary Fund to stop extending additional loans to Nigeria.
They said continued borrowing was placing an increasing burden on Nigerians, while chanting and calling on international financial institutions to “let Nigeria breathe.”
One of the protesters lamented that, “Nigeria cannot address the climate crisis when it continues to borrow.”
The protesters expressed concern over the country’s mounting debt and its implications for citizens and the economy.
They also urged the government to explore alternatives to further borrowing and prioritise measures aimed at easing the economic pressures facing Nigerians.
The demonstration was organised amid growing civil society concerns over Nigeria’s debt profile and the government’s borrowing policies.
LEADERSHIP recently reported that foreign borrowing reached over $51.9 billion in the first quarter of 2026, as Nigeria’s total public debt stock rose to N159.35 trillion.
The latest quarterly report by the Debt Management Office showed that total public debt increased marginally to N159.35 trillion as of March 31, 2026, from N159.28 trillion at the end of December 2025, representing a net increase of about N71.6 billion in the first quarter of 2026.
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