Nigeria’s debt reached a new high of N43.4 trillion as of July 1, 2021.
Many people on the street and internet are asking how much Nigeria owes China, one of the largest foreign owners.
Breaking Down the Nigeria Debt
Total Nigeria’s national debt was N32.222 trillion as of September 2020 and in December 2020 it roses to N32.915. Here’s how it breaks down.
The country’s total public debt of N32.915 trillion as of December 31, 2020, was added to the N760,842 billion surplus/deficit in the supplementary appropriation bill for 2021 and the N4.68 trillion borrowed in the 2021 fiscal period to the fresh N4.89 trillion proposed borrowing for 2022, summing up to bring the country’s total debt burden to N43.4 trillion.
How Much Does Every Nigerian owe?
The country’s total debt responsibility of N43.4 trillion divided by the country’s 211 million population placing the debt profile of all Nigerians at N205,687 per person.