The Federal Government has dismissed reports alleging that it plans to borrow ?80 trillion, describing the claims as false, misleading, and lacking any factual basis.
Government officials clarified that no such borrowing proposal has been approved or presented, urging Nigerians to disregard the circulating reports. According to the authorities, public borrowing decisions are guided by established legal and fiscal frameworks and are subject to due process and transparency.
Officials emphasized that the administration remains committed to prudent economic management, maintaining fiscal discipline, and implementing policies aimed at stabilizing the economy while supporting infrastructure development and social welfare.
The clarification comes amid growing public concern over Nigeria's debt profile and the country's financing needs. Analysts note that reports of large-scale borrowing often spark anxiety among citizens because of their potential impact on inflation, debt servicing, and economic growth.
The government reiterated that any legitimate borrowing plan would be publicly communicated through the appropriate channels and would comply with constitutional and legislative requirements.
Authorities also called on the public to verify information from credible official sources before sharing it, warning that misinformation on economic matters can create unnecessary uncertainty and undermine public confidence.
The latest statement is expected to reassure investors, businesses, and citizens as the government continues to pursue reforms aimed at strengthening revenue generation, improving fiscal sustainability, and promoting long-term economic stability.
