News

Wake-Up Call Nigerians : 390,000 Naira Owed by Each Citizen

In a time marked by economic challenges, it becomes crucial to stay informed about our nation’s financial well-being. As Nigeria grapples with a colossal debt burden of 87.4 trillion naira, there emerges a silver lining—a chance for every citizen to contribute to our collective future.

The latest report from the Nigerian Bureau of Statistics (NBS) sheds light on this pressing matter. Shockingly, the debt has surged by more than 75 percent in just three months, reflecting the dynamic nature of our economy. This increase can be attributed to a domestic debt of 54.13 trillion naira, accompanied by foreign debt exceeding 33.25 trillion naira.

What’s truly noteworthy is that Nigeria’s population, as documented by a United Nations report on population, stands at a substantial 223,804,632 individuals. This implies that, on average, each Nigerian shares in the national debt, bearing a burden of approximately 390,517.17 naira.

Rather than fixating solely on the numbers, let us recognize this as an opportunity for unity and shared responsibility. Each citizen’s contribution, although financial, signifies our collective investment in the nation’s progress. As a united people, we hold the power to transform challenges into opportunities, paving the way for a brighter future for all.