The Federal Inland Revenue Service (FIRS) has defended the federal government’s rising debt profile, insisting that borrowing remains a legitimate component of the national budget when properly managed.
Speaking at a recent stakeholders’ forum, FIRS officials explained that most modern economies rely on strategic borrowing to finance infrastructure, boost productivity, and stabilize fiscal performance. According to the agency, Nigeria’s borrowing framework is designed to ensure that loans are channeled into capital projects that will, in turn, generate future revenue.
The FIRS stressed that while concerns over debt sustainability are valid, critics must recognize that borrowing in itself is not harmful — misuse and poor debt management are the real risks. The agency assured Nigerians that the Tinubu-led administration is committed to transparency, accountability, and debt repayment plans that align with global best practices.
Analysts, however, warn that rising debt servicing costs could squeeze public spending on social welfare and development if revenues do not keep pace.
FaceToface TV will continue to follow the government’s debt strategy and its impact on Nigeria’s economy.
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