News
Nigeria’s Debt Per Capita Hits ₦619,501 as Total Public Debt Rises to ₦134 Trillion
The National Bureau of Statistics (NBS) has reported that Nigeria’s debt per capita now stands at ₦619,501, following a review of the country’s debt portfolio for the second quarter of 2024.
The Debt Management Office (DMO) disclosed that Nigeria’s total public debt has surged to ₦134.297 trillion as of June 2024, marking an increase of ₦13 trillion from the previous quarter’s total of ₦121 trillion.
Based on Nigeria’s estimated population of 216.7 million, the debt per person averages ₦619,501. The DMO’s report breaks down the debt into domestic and external components: domestic debt stands at ₦71.2 trillion, while external debt totals ₦63 trillion.
Within the external debt figure, the federal government owes ₦55.8 trillion, and states owe ₦7.1 trillion.
Domestically, the federal government’s debt is significantly higher at ₦66.9 trillion, with states owing ₦4.2 trillion.
The rising debt has reignited discussions around Nigeria’s reliance on borrowing, with increased calls for the government to explore sustainable financing strategies to reduce the debt burden on citizens.
It was reported that bandits were seen in Kwara State and abducted six residents from Rukpete Village.
The incident was reported to have occurred on June 8 at about 11 p.m.
Sources revealed that seven people were initially taken, but an elderly man was later released, leaving six victims in captivity.
The rising cases of insecurity in the country remain quite alarming.
The state of the country is affecting many people, as they believe nowhere is safe, including schools where they keep their children.
It has been reported that some parents have started withdrawing their children from schools in Abuja.
It can be noted that rumours of bandits being sighted near a school triggered panic, causing parents to hurriedly remove their children for safety.
While the reports of bandits have not been confirmed, the school has also issued safety measures to ensure the protection of students within the premises.
It has been rumored that bandits have made their way to Lagos, and allegedly they were spotted in Ibeju-Lekki, where some residents became suspicious of them and reported the matter.
A clip of the group of men went viral online, and many people became concerned. Whether true or not, fear has been sparked among Lagosians as they worry that bandits may already be in the state. Even if the reports remain unconfirmed, many believe it is still a possibility worth paying attention to.
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