Nigeria’s debt profile has been on the increase because of the impact of revenue crash and the crises trailing the coronavirus pandemic on the economy, the Debt Management Office has said. However, some economists and experts have warned of the dangers of continued borrowing from the Central Bank of Nigeria by the Federal Government. Obaseki reportedly stated on Thursday that Nigeria was in huge financial trouble, alleging that the Federal Government printed N60bn in March as part of federal allocation last month. The Edo governor also expressed worry over the country’s increased borrowing, saying it was wrong to continue borrowing without a tangible plan for debt repayment. In a reply to an enquiry from one of our correspondents, the Director-General of DMO, Patience Oniha, blamed crashed revenue and COVID-19 for increased borrowing. The DMO boss noted that apart from the Federal Government, the states are also borrowing increasingly too. Statistics obtained from the DMO showed that the country borrowed N5.52tn in 2020. As of December 2019, the country’s debt portfolio stood at N27.4tn. However, Nigeria’s total public debt rose to N32.9tn at the end of December 2020, according to a statement released by the DMO in March.