NEWS

EACH NIGERIAN OWES N619,501 ACCORDING TO REPORT BY DEBT MANAGEMENT OFFICE 


As per data published by the Debt Management Office, each Nigeria owes N619,501 according to debt per capita report, with the country's debt profile standing at N134,296 trillion as at the second quarter of 2024.

National Bureau of Statics has placed Nigeria's population at 216,7 million, hence the stated amount of debt per capita.

The data further indicates that domestic debt stands at N71.2trillion, while external debt stands at N63 trillion.

Out of the amount owed, States owe N7.1 trillion externally while the federal government owes N55.8 trillion externally. States owe N4.2 trillion domestically while federal government owes N66.9 trillion.

The new debt figure of the country put at N134 trillion is a N13 trillion increase from the N121 trillion recorded as of March 2024.

Nigerians have been clamouring for less dependence on loan, especially foreign one, keeping in mind the large interest rate and conditions attached to it. They have also expressed concern over high cost of governance that has been consuming major parts of the said loans. Instead, local resources and technology can be used to boost country's economy, the opine..

Comments

Post a Comment

Popular posts from this blog

NEWS

Image
THREE CONFIRMED DEAD IN A STRANGE DISEASE OUTBREAK AT NIGERIAN MILITARY SCHOOL ZARIA, OTHERS IN CRITICAL CONDITION  Officers and men of the Nigerian Army whose children and wards are enrolled in the Nigerian Military School Zaria were been sighted in their numbers in the school following outbreak of a strange disease and eventual dead of some students. They were their to pick their children and wards - Ideal Reporters gathered. A student died around 10:00 am Friday, to unknown ailments at the military facility. A parent revealed “Another boy died today, we now have 3 students in total who had died as of today. “Our children are no more safe, the army should come out to tell us what’s killing our children. Many are still in critical condition at ABUTH as we talk,” Some students are reportedly hospitalised at Ahmadu Bello University Teaching Hospital are said to be battling for survival. The unexpected incident had caused anxiety, leading to parents storming the military...
Read more

Exclusive

Image
THE ONDA EID SKIRMISHES, HON. MOHAMMED SANI OTTO AND THE FALSE NARRATIVE  My attention has been drawn to a viral video making the round on social media in which the Nasarawa State Commissioner of Trade, Industry and Investment, Hon. Mohammed Sani Otto was visibly sighted at Onda Eid Ground.  In the same video, one that was deliberately edited in part, to capture the area that presents a false narrative aimed at misinforming the unsuspecting public about what truly played out.  For the record, let me state that Hon. Mohammed Sani Otto chose to observe Eid-el Fitr prayer with his kinsmen at Onda, out of the love, respect and admiration he has for them, a usual disposition that characterizes him.  On getting to the Eid Ground, he was greeted by skirmishes involving loyalists of the Osu Onda, His Royal Highness, Alh. Abdullahi Kuku and Alh. Usman Ode, a one time contender to the exalted throne of Osu, as both were on ground. Typical of traditional tussles, in...
Read more

Open Memo

Image
Memo to His Excellency, Governor Abdullahi A. Sule By Murtala Adogi Mohammed Subject: Strategic Recommendations for Nasarawa State’s Development Your Excellency, I commend your proactive decision to dissolve the Executive Council as part of efforts to reposition Nasarawa State for greater progress. This is an excellent opportunity to realign the state’s development priorities and governance structures. With the expiration of the Nasarawa Economic Development Strategy (NEDS) in 2023, it is critical to establish a new development framework before appointing new commissioners.  I recommend setting up a Nasarawa State Development Council to review NEDS I and fast-track the development of NEDS II. This will guide commissioners in creating sectoral plans aligned with the state’s vision. Here are some quick actionable steps: 1. Develop NEDS II Create a four-year strategic plan focusing on youth and gender-responsive initiatives, tackling unemployment, education, healthcare, ...
Read more