The Looming Debt Avalanche: Why Nigeria’s external borrowing is eating the future, by Abubakar M. Kareto The International Monetary Fund has just fired a fiscal flare gun into Nigeria's macroeconomic sky. In its newly released 2026 Article IV Consultation Report, the Fund projects that Nigeria’s public external debt is on track to climb from $51.9 billion to a staggering $72.6 billion by 2027. This represents a nearly 40 percent surge within a two-year window. For an economy already grappling with profound structural vulnerabilities, this looming debt avalanche raises a fundamental question...