AN analysis of Nigeria’s public debt stock, released by the National Bureau of Statistics, has shown that each Nigerian currently owes N396,376.19 in terms of debt per capita.

The NBS published that the country’s total public debt increased by 75.27 per cent from N49.85 trillion in the first quarter of 2023 to N87.38 trillion at the end of the second quarter of 2023. In monetary terms, this is an increase of N37.53 trillion in three months.

The ICIR calculated the debt stock per capita by dividing the total public debts of the country by the country’s population. According to the World Poverty Clock, Nigeria’s population is estimated at 220.4 million.

Breaking down by category, the total external debts by the federal government stood at N29.9 trillion, while the 36 States and the Federal Capital Territory external debts were N3.35 trillion.

For domestic debts, the Federal government’s debt is N48.31 trillion, while for States and FCT is N5.82 trillion.

A report captured that the debts also contain the N22.71 trillion Ways and Means Advances of the Central Bank of Nigeria to the Federal government adding that other additions to the debt stock were new borrowings by the Federal government and sub-nationala from local and external sources.

Way and Means Advances is when the Federal government obtains a loan from CBN to meet short-term needs of emergencies. According to Section 38 of the CBN Act, the loan should not exceed five per cent of the country’s previous year’s actual revenue. The ICIR reported how CBN violated the Act by overlending the sum of $49.2 billion to the previous government.

According to NBS, the domestic debt as of the end of June 2023 was N54.13 trillion ($70,264.58 million), while external debt stood at N33.25 trillion ($43,159.19 million).

According to the data bureau, “Lagos state recorded the highest domestic debt in Q2 2023 with N996.44 billion, followed by Delta with N465.40 billion while Jigawa state recorded the lowest domestic debt with N43.13 billion, followed by Kebbi with N60.94 billion.

https://www.icirnigeria.org/each-nigerian-owes-n396376-as-public-debt-rises-to-n87-4-trillion/

God help us please

#1, I no chop. APC will have 2 sell the kidneys of children of its supporters to raise money to pay up when its due

You can either keep the jobs or bear the headaches, the youth are being sidelined so the debt will increase when the workforce is eating and idle

Una dey on your own o

Make una come collect my own. I no dey in the mood to owe anybody.

Thank God that I'm not among

I’ll consult my lawyer to guide me through how I can pay my own part of the debt and my name should/must be exempted from the list of citizens of debtors.

Pls any interested and qualified lawyer should DM me.

Its crazy how some fools thinks that the country will be turned around when our greatest asset which is human resource is not fully optimized

Lets keep playing and shouting jagaban ooo

South West defended Buhari and APC polices for 8yrs just because of Osinbajo and Tinubu..
Buhari and Osinbajo presidency was a big mistake
See where we are now

Chai..


Nigeria can pay.

She has the money.

Nobody should disturb citizens about useless statistics that are not even coherent.


...but the problem is that, the monies have been shared into private accounts ever since.

The criminals should be hunted and the monies brought back to repay the loan.

Lobarton!!!

Bulaba will clear the debt, it was among his campaign promise. He has cleared that of APC members. Others should get their APC membership card to clear their debts.

By the way
I just published my book(Futo na War) on okadabooks. It is a story about my experience in school.
Link on my signature...

only ?

Lol! So our leaders have owed debts in our stead. 😂😂😂😂😂😂

God help us in this country. The rich is owing, the poor will be forced to pay (probably through stringent taxes). Was slavery even as bad as this?

Dey play

But this is a serious matter oo
Hmmm

Not me.

Full plot of land, fenced and gated, at Lusada, Agbara. Complete original Survey done.
Owner is a direct, close acquaintance.
Going at a very good price, DM me now

Not me

TemplarLandry:

mumu

Those who borrowed the money should pay
Make una no count me

Nigeria is Africa’s largest oil producer and one of the world’s top 10 oil producers.
The country is estimated to have the ninth-largest proven oil reserves in the world, with an estimated 37 billion barrels of oil.
.....and we have nothing to show for all the wealth as a nation since Independence?!

Again,
May all politicians that looted and raped our darling nation and took her 100 years back with blind looting and stealing since 1960 never end well in life.
Including their supporters.
So shall it be as long as God lives....

We Rise.

Ok

What is the major cause of forex scarcity in APC's era?
Under PDP forex wasn't scarce as it is right now.
What is really the problem?

Now listen, many of the so called politicians have stacked billions of dollar notes in some secret rooms in their houses.
They bring some part out during elections to buy INEC staffs and voters too.
So, why won't forex be scarce?

Why does Black sub saharan Africa (the black race) seems to be at the bottom of the food chain in terms of minimum wage?

From Niger Republic to Ghana, to Congo, to Benin, Cameron and giant of Africa story is the same.

We the members of Ronu and Rice Bandits Association of Nigeria owe only 6 Naira. Our baba Gbola Tilumbu has paid off the remaining part of the money. We no dey shake.

Praxis758:
I’ll consult my lawyer to guide me through how I can pay my own part of the debt and I my name should/must be exempted from the list of citizens of debtors.

Pls an interesting and qualified lawyer should DM me.

A lawyer will get in touch with you ASAP.
Lawyer wey still dey think of how him go pay him own gbese!!

Make them go call the people when apply, signed and collected the loan to share as prayers to their emails to pay them back o

On a serious note, imagine the depth of our debts. No plans to repay and we are still collecting more, plunging us deeper into the depth trap

God would not come down to do what we need to do to get our sh*t together. When we are ready, we would know but for now let's still keep playing the tribalism card.

LoL. small money. Don't worry, BAT will pay for everybody

Shehuyinka:


https://www.icirnigeria.org/each-nigerian-owes-n396376-as-public-debt-rises-to-n87-4-trillion/

How much be our GDP per capital again?

——-

Base on the info below, we are actually generating more than 2million naira per year per person. So go and pay your debt Nigerians, you get the money —- spend am.

All the loans they took was simply to service their huge salaries and maintain their flamboyant style of living

Light I no see
Good Roads no dey
Social amenities is nothing to write about
Industries no Dey
Hospitals is a place to die instead
Employment no Dey
Tax is on highside
Education is on the lowest level
Even our crude can not be refined


I refuse to accept my responsibility to the government cos they’re all criminals

Ok

The funniest part be sey, large chunk of this money dey offshore accounts where some people kept it for the use of their generation yet unborn

How can someone be telling me he spent 50k naira to buy 1pc of 5watts of bulb whereas original retail price is 500naira