$1.5bn fresh loan: Atiku reveals how much each Nigerian now owes as debt hits N166.79tn
Atiku Abubakar, the former Vice President and presidential candidate for the African Democratic Congress, has announced that each Nigerian now bears a debt of N716,822, as the nation’s total debt profile rose to N166.79 trillion by June 2026.
This announcement was made in a statement issued by his spokesperson, Phrank Shaibu, on Monday. The news comes as the Nigerian government seeks to secure an additional loan of N1.5 trillion from the World Bank.
According to the Debt Management Office, Nigeria’s total debt at the end of June 2026 stood at N166.79 trillion.
In his response, Abubakar criticized the current administration’s economic policies, stating that the increased debt burden is indicative of President Bola Ahmed Tinubu’s management of the economy. He noted that families are finding it increasingly difficult to afford basic necessities, such as food, fuel, and electricity, even as the country’s debt continues to escalate.
“Dividing Nigeria’s public debt among the population means each individual would owe N716,822 today, a stark increase from N383,442 three years ago, marking an 87 percent rise,” Abubakar said. He further commented on the current economic challenges, suggesting that Tinubu has made life more difficult for citizens today and uncertain for the future.
