The Nigerian government plans to borrow an additional $24 billion, potentially raising the country’s total debt to N182 trillion, which translates to about N801,762 owed per citizen. Despite claims of saving $7.5 billion annually by removing fuel subsidies, the debt surge—up 48.6% since 2023—raises concerns about Nigeria’s fiscal sustainability amid significant revenue shortfalls from oil production misses. Experts, including the Nigeria Economic Society president and fraud examiners, warn about accountability, transparency, and the long-term impacts of accumulating debt, questioning the government’s borrowing strategy during ongoing economic challenges. Critics also highlight risks of worsening fiscal conditions and governance issues as the country faces rising insecurity and limited investment in social services.