The Federal Government has dismissed claims that the Tinubu administration added N80 trillion to Nigeria’s debt stock, labeling the figures as misleading. Finance Minister Taiwo Oyedele explained to the Senate Committee on Finance that the apparent surge is primarily due to accounting adjustments rather than new borrowing. Specifically, the revaluation of foreign currency obligations following naira depreciation added over N40 trillion to the debt figures, while the securitization of N33 trillion in Ways and Means advances—obligations inherited from the previous administration—accounted for another major portion. The Minister emphasized that current domestic borrowing is largely focused on refinancing maturing debts, maintaining that the administration remains committed to debt sustainability. Meanwhile, the Senate Committee expressed concerns over the slow implementation of the 2026 capital budget, with officials promising to improve project execution through performance-based budgeting.