Nigeria’s Rising Debt Profile: A Heavy Burden on Ordinary Citizens
During an interview on Trust TV, public affairs analyst Dr. Ibrahim Saleh raised concerns about the country’s rising debt profile and its effect on ordinary citizens. He pointed out that if the country’s total debt is divided among its approximately 230 million people, each person would be indebted to about ₦660,000. This is a staggering figure, especially considering the economic struggles many Nigerians face daily.
The concern isn’t just about the debt itself, but how it’s being managed and utilized. Many are questioning the transparency and accountability of the government’s borrowing and spending habits. With a significant portion of national revenue going towards debt servicing, essential sectors like healthcare, education, and security are underfunded.
Experts argue that Nigeria’s debt situation is unsustainable and could lead to deeper poverty, weakened governance, and national instability if not addressed. The government needs to prioritize prudent financial management, invest in productive sectors, and implement structural reforms to ensure the country’s economic survival.
