According to Legit.ng, Togo, Benin Republic, and Niger collectively owe Nigeria N17.45 billion in electricity debt. This situation exacerbates the financial challenges faced by these countries, while data indicates that domestic customers in Nigeria tend to pay their electricity bills more reliably.

The Federal Government of Nigeria claims it is addressing the electricity sector's debt, stating it has reached approximately N4 trillion. However, Generation Companies (GENCOs) dispute this figure, asserting that the actual debt is N7 trillion and that no payments have been made. This ongoing disagreement highlights the tensions between the government and GENCOs regarding the financial status of the power sector.

Nigeria's Federal Government is set to spend N358 billion on electricity subsidies in the first quarter of 2026, even as the country continues to experience persistent blackouts. This expenditure occurs while electricity tariffs remain frozen, according to Punch.

A statement from South Africa suggests that the country should not provide any financial assistance to Nigeria, arguing instead that it should send an invoice for the costs incurred due to increased security measures. This perspective highlights concerns over financial support amidst security challenges.

Former Vice President Atiku Abubakar has criticised President Bola Tinubu's administration over N24.7 trillion in domestic borrowing, arguing that the debt is choking Nigerian businesses. According to Legit.ng, Atiku questioned the rationale for the borrowing at a time of higher oil prices and rising government revenues, suggesting the government's fiscal approach is placing undue pressure on the private sector and the wider economy.

Taiwo Oyedele, chairman of Nigeria's Presidential Committee on Fiscal Policy and Tax Reforms, has rejected claims that President Bola Tinubu's administration borrowed between ₦75 trillion and ₦80 trillion, describing the circulating figures as misleading. According to African Examiner, Oyedele made the remarks during an economic review session organised by the Senate Committee on Finance, where he explained the factors behind the reported increase in the country's debt profile.