Tinubu’s Fiscal Reforms Keeping Nigeria Off Global Top Debt List — Jimoh Ibrahim

The Senator representing Ondo South, Jimoh Ibrahim, has said Nigeria’s absence from the list of the world’s most indebted countries reflects what he described as disciplined fiscal coordination under President Bola Tinubu.

 

Ibrahim, an ambassador-designate, made the assertion amid renewed public debate over Nigeria’s debt profile and borrowing pattern. His remarks were contained in a statement shared on Wednesday.

 

The senator’s comments follow the release of fresh global debt data for Q4 2025 by the Institute of International Finance (IIF) Global Debt Monitor, analysed by Visual Capitalist. The report shows several advanced economies with total debt burdens exceeding 300 per cent of Gross Domestic Product (GDP).

 

According to the data, Hong Kong tops the ranking at 380% of GDP, followed by Japan (372%), Singapore (347%), France (326%), and Canada (315%). The figures reflect combined government, corporate, and household debt.

 

Within Africa, countries such as Senegal (156%), South Africa (149%), and Tunisia (143%) are experiencing rising debt levels, largely driven by sovereign borrowing.

 

Nigeria, however, does not feature among the most indebted nations globally in terms of total debt-to-GDP ratio. Ibrahim argued that this outcome underscores the impact of ongoing fiscal reforms and improved coordination in managing public finances under the Tinubu administration.

 

The debate over Nigeria’s debt sustainability and borrowing strategy continues, particularly as the government pursues revenue expansion and economic reform measures ahead of the 2027 gene ral elections.