Nigeria’s growing reliance on public borrowing has raised critical concerns about transparency, oversight and the effective utilization of borrowed funds. While debt remains an important instrument for financing development, weak scrutiny of borrowing decisions, limited disclosure of loan terms and inadequate monitoring of debt-funded projects can undermine the value of borrowing and leave citizens bearing the cost without seeing corresponding development outcomes.
The Public Debt Integrity Project (PDI) of the Center for Fiscal Transparency and Public Integrity (CeFTPI) seeks to strengthen accountability across Nigeria’s public debt system by improving how government loans are approved, managed, monitored and utilized.
The project focuses on strengthening parliamentary oversight of borrowing, assessing Nigeria’s debt management practices against international standards, promoting stronger enforcement and sanctions for the misuse of loan funds, and improving public access to information on debt-funded projects. It also promotes practical accountability mechanisms, including independent project verification, public debt monitoring tools, regular hearings on the utilization of borrowed funds, independent audits and Freedom of Information requests for loan and expenditure records.
Through research, monitoring, policy engagement, public disclosure and stakeholder advocacy, the PDI Project aims to ensure that every naira borrowed is subject to scrutiny, traceable to its intended purpose and ultimately translated into measurable public value.