Don't get it twisted. Debt is a good thing.

I repeat debt is a good slave if you know how to use it. Do you ever wonder why rich companies still borrow money and owe debts? Do you ever wonder why the likes of Elon Musk and Aliko Dangote are all debtors despite being very wealthy? Do you know your banks in Nigeria are debtors?

Ha! See lamba!!

In fact, this litigator is the lord of lamba (lol). How do you know this self?


One of our forte as hardcore litigators is debt management and negotiation. Yes! Aside from other banking-related areas of strength, one key area we specialize in is debt management.

That is, we help individuals and companies manage their debt portfolios.

No one likes to be dragged because they are unable to repay their debts as and when due. No MD will like to lose his company to creditors nor will the MD and Key management staff enjoy having the office of the police of EFCC as their second home. No one likes to deal with numerous litigation in court that will leave them with little or no time to care and attend to more important life-pressing matters.

Let's now agree that debt is an essential part of any economy, as it allows governments, corporate entities and individuals to finance projects and investments that they otherwise wouldn't be able to afford. However, when debt reaches unsustainable levels, it can lead to severe economic consequences.

In Nigeria, managing debt has become a significant challenge, with the country grappling with its debt situation. Understanding the impact of debt on the economy is crucial for individuals, companies and policymakers alike.

The debt situation in Nigeria

Nigeria has been facing an increasing debt burden in recent years, raising concerns about the country's ability to manage its finances effectively. As of March 31st, 2023, the total debt of Nigeria stands at N49. 85 trillion ($108.30 billion), a staggering figure that demands attention. This mounting debt has raised questions about the sustainability of Nigeria's economic growth and its ability to service these obligations in the long run.

Well! Let's not forget the fact that corporate entities and individuals struggling to keep the rising cost of living at bay while doing all they can to get by are definitely not left out. Most companies paid July salaries with loans and do not know where August salaries will emanate from. Individuals now borrow to feed themselves and pay bills. These are all liabilities that we ought not to service or defray with loans. But the galloping inflation and attendant issues of insecurity et irrational government policies are to be blamed,

But when should this blame game end?