Abuja, Nigeria – In a move that signals continued reliance on short-term borrowing, the Federal Government has announced plans to raise a staggering ₦1.76 trillion through Treasury Bills in the third quarter of 2025—marking a 12.8% increase from the same period in 2024.
According to the Central Bank of Nigeria (CBN), the government will issue the bills between July 2 and September 24, breaking down as follows:
- ₦340 billion in 91-day tenors
- ₦230 billion in 182-day tenors
- ₦1.19 trillion in 364-day tenors
While officials insist the move is necessary to manage short-term funding needs and deepen the domestic debt market, critics warn that the aggressive borrowing trend may exacerbate the country’s already precarious debt profile.
Analysts argue that overdependence on domestic borrowing through Treasury Bills not only crowds out private sector access to credit but also burdens future administrations with mounting interest payments. With inflation still in double digits and rising concerns over dwindling revenues, the move has sparked fresh debate on the sustainability of Nigeria’s fiscal strategy.
Economic observers say the growing appetite for debt must be matched by transparent spending, improved revenue collection, and real efforts to curb waste. Otherwise, they caution, the country risks trading long-term stability for short-term relief.
The latest borrowing plan comes as many Nigerians continue to reel from the impact of fuel subsidy removal, rising food prices, and currency depreciation—factors that have eroded public trust in the government’s economic direction.