What makes Nigeria’s fiscal situation particularly troubling is the contradiction between the government’s growing financial obligations and citizens’ expectation that public revenue should translate into tangible public value. Nigeria’s fiscal story appears to have “voodoo” trends, owing to the fact that in just the first six months of 2026, it is alarming that the Federal Government spent N7.7 trillion on interest payments alone, against revenue of just N6.2 trillion. This has left most Nigerians confused because it paid creditors more in interest than it collected in revenue, leaving a N1.5 trillion gap before accounting for the many other responsibilities of government.
At this point, the more disturbing…