Each Nigerian Now Owes Over N200,000 of National Debt as FG Takes Another N2trn in 3 Months

Each Nigerian is now owing at least N201,941 as their share of the country’s debt.

It is the most each Nigerian would owe as a function of debt per capita (or debt per person). The current level is a jump from N45,173 owed by each Nigerian when January 2013 started, to N159,675 at the beginning of last year (2021), analysis has shown.

According to data released on Tuesday, 7 June by the Debt Management Office (DMO), Nigeria’s total debt as of March 31, 2022, increased to N41.60 trillion from N39.55 trillion as of the end of 2021.