Nigeria's Debt Crisis: Every Citizen Now Owes N670,000
Dele Oye, Chairman of the Alliance for Economic Research and Ethics, highlights a critical escalation in Nigeria's public debt, which has reached N159.28 trillion. The analysis reveals that the current administration added N65.9 trillion in just 24 months,five times the debt accumulated in the country's first 55 years. The report challenges the government's reliance on debt-to-GDP ratios, arguing that the debt-service-to-revenue ratio, which exceeded 100%, is the true indicator of fiscal distress.