Every Nigerian now owes approximately N619,501 based on the country's debt per capita report as of June 2024. 

This staggering figure is derived from Nigeria's total public debt of N134.297 trillion and a population of 216.7 million. 

To put this into perspective, each Nigerian owes about nine times the newly approved minimum wage of N70,000.

Nigeria's debt profile has been growing at an alarming rate, with a record increase of N46.9 trillion under the current administration. 

The breakdown of the debt shows that domestic debt stands at N71.2 trillion, while external debt stands at N63 trillion.

The federal government owes N55.8 trillion externally, while states owe N7.1 trillion externally. 

Domestically, states owe N4.2 trillion, and the federal government owes N66.9 trillion.

This significant debt burden has sparked concerns among Nigerians, with many calling for reduced reliance on loans and more sustainable economic policies. 

Some have expressed frustration, jokingly asking where they can pay their share of the debt.

Others have criticized the government's spending habits, citing unnecessary expenses such as the renovation of the vice president's presidential mansion in Lagos.

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