**The Debt Trap: Is Nigeria's Borrowing Binge Sustainable?** Nigeria's debt landscape has been a subject of concern for a while now, and the latest figures from the Debt Management Office (DMO) are not helping to alleviate the anxiety. In the first nine months of 2025, the country spent a whopping N10.81 trillion servicing outstanding debt obligations. This amount is comprised of both external and domestic debt service payments, with the external debt service payments alone amounting to $3.34 billion (approximately N4.49 trillion). The total public debt profile has now risen to N153.3 trillion, representing a 0.59 per cent quarter-on-quarter increase from the previous quarter. Nigeria's economy is already reeling from high levels of socio-economic stress, and the ever-rising debt portfolio is making things worse. The authorities seem to be ignoring the warning signs as the loans keep piling up, raising concerns about the country's ability to repay its debts in the future. As of last September, the domestic debt stock for the three tiers of government stood at N81.81 trillion, with the federal government accounting for the bulk of it. The domestic debt stock owed by states and the FCT has also increased slightly to N4 trillion. While borrowing can be necessary, especially during times of economic downturn, the rate at which Nigeria is piling up debts is unsustainable. The funds borrowed are not being deployed into projects that generate income, and most of the federal government projects for which jumbo loans were obtained cannot even earn enough to fund their operations. This raises serious concerns about how the debts will be repaid. Furthermore, the profligate mindset of borrowing without a clear plan for repayment is one of the worst ailments that can afflict a government. The implications of Nigeria's borrowing binge are far-reaching. The increased debt service payments are putting pressure on the economy, leading to higher inflation and reducing the government's ability to invest in essential services and infrastructure. As a country, Nigeria needs to take a hard look at its debt profile and devise a sustainable plan to reduce its reliance on borrowing. The country's dependence on oil receipts has been a burden due to poor governance in the sector, and it's time to diversify the economy and reduce our reliance on external debt. In conclusion, Nigeria's borrowing binge is a cause for concern, and the government needs to take immediate action to address the issue. The country needs to adopt a more sustainable approach