With a rise in the country’s debt burden from N457.5 billion ($3.33bn) in 2007 to N121.67 trillion ($42.12bn) in 2024, the National Assembly’s moves to amend the Fiscal Responsibility Act (FRA) is welcome When the Fiscal Responsibility Act (FRA) was enacted in 2007, Nigeria’s external debt was N457.5 billion ($3.33bn). As of 2024, it has ballooned to N121.67 trillion ($42.12bn). This dramatic increase raises questions about the efficacy of the current legislation, which...