According to debt per capita report, every Nigerian now owes nothing less than ₦619,501.
This was shown from a data review for the second quarter debt portfolio of the country released by the National Bureau of Statistics (NBS).
According to the data published by the Debt
Management Office, Nigeria’s public debt stood at ₦134.297 trillion as of the second quarter of 2024 (June, 2024).
With the National Bureau of Statistics putting the country’s population at 216.7 million persons, it would mean that debt per capita stands at ₦619,501 based on the latest figure released by the DMO.
Furthermore, the data from DMO stated that, “The total Public debt is ₦134tn.
This is for public debt stock – external and domestic debt of the FN (Federal Government of Nigeria), states, and FCT (Federal Capital Territory) as of June 30, 2024.
In addition, the data further shows that domestic amount owed stands at ₦71.2trillion, while external figure stands at ₦63 trillion.
Of the amount owed, States owe N7.1 trillion externally while the federal government owes ₦55.8 trillion externally.
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States owe ₦4.2 trillion domestically while federal government owes N66.9 trillion.
The new figure of the country put at ₦134 trillion is a ₦13 trillion increase from the N121 trillion recorded as of March 2024.
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