Nigeria’s Climate Debt: Why Stakeholders are Angry Over N144trn Burden

By: Abudu Olalekan

Nigeria’s N144 trillion debt is more than just a number; it is a barrier to climate action. Stakeholders in Abuja demand accountability for youth and the environment

You know what keeps me up at night? Not just the power cuts. Not even the noise from the generator next door. It’s this number—N144 trillion. Nigeria’s public debt. As of late 2024, it hit ₦144.67 trillion. Let that sink in. That’s not just a statistic. That’s stolen futures.

I was at an event in Abuja on December 9, 2025. Organized by the Centre for Inclusive Social Development (CISD) and Heinrich Böll Foundation (HBF). The room? Packed. Young people mostly. Journalists, activists, a few officials who looked… uncomfortable. Theme: “Youth, Climate Change, and Nigeria’s Development Crisis.” Heavy stuff. Real talk. No fluff.

Folahan Johnson, head of CISD, stood up. Calm voice. Sharp words. Said something I can’t forget: “The true cost of debt? It’s the girl who dropped out of school. The woman who died in childbirth because there was no clinic. That’s the real price we’re paying.”

And he’s right. Think about it. Every naira spent on interest is one less naira for clean water, solar grids, flood barriers. Debt isn’t abstract. It’s a mother walking six kilometers with her sick child. It’s youth stuck in survival mode, not innovation.

Then Donald Ofoegbu from HBF took the mic. Blunt. Passionate. Called out the high interest rates—some loans over 15%. Criminal, really. Who benefits? Not us. He reminded everyone: floods hit over 33 states a few years back. Damaged infrastructure worth $9.12 billion. And now? We borrow more to fix what was already broken. Circle of chaos.

“Nobody is coming to save Nigeria,” he said. Voice rising. “This is our home. We fix it—or we lose it.”

Chills. Honestly.

Joseph Amenaghawon from BudgIT dropped another truth bomb. “We’re borrowing without building,” he said. Recurrent spending. Salaries. Fuel subsidies. Not climate-resilient roads. Not green energy plants. Just debt piling on debt.

And where are the young people in all this? Left out. Again.

There were two panel sessions. Heated. One guy stood up—student, maybe early 20s—asked, “How do you expect us to care about climate action when we can’t even eat?” Silence. Then slow clap.

They also launched a report. Title? “Mapping Nigeria’s Debt Landscape: A Burden on Youth, Climate Change & National Development” by Reportersroom. Hard-hitting. Clear. Says what we all feel: borrowing must fund projects that pay for themselves. Power plants. Irrigation systems. Flood defenses. Not just paper files and meetings.

Key takeaway? Fiscal discipline. Now. Transparent borrowing. End the culture of “we’ll figure it out later.” Because later is here. And it’s broke.

We need aggressive revenue mobilization. Close tax loopholes. Stop the leak. Demand accountability. Not tomorrow. Today.

Because right now? We’re taxing the future. Women. Girls. Youth. They’re paying for decisions they didn’t make.

And let’s be real—climate change isn’t waiting. Neither should we.

Fix the debt mess, or forget about climate resilience. Can’t build seawalls with empty coffers.

This isn’t doom-mongering. It’s wake-up shouting.

We can still turn it around. But only if we stop pretending someone else will do it.

It’s on us. All of us.