Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has said Nigeria’s rising debt has pushed the estimated debt burden per citizen to N716,822.
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Atiku made the claim in a statement issued on Monday by his spokesperson, Phrank Shaibu, following reports that the Federal Government is seeking a fresh $1.5 billion loan from the World Bank.
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The Debt Management Office (DMO) reported that Nigeria’s total public debt stood at N166.79 trillion as of June 2026. Atiku used the figure to calculate the estimated amount attributable to each Nigerian if the country’s debt were shared equally across the population.
He said the estimated per-person debt had increased from N383,442 about three years ago to N716,822, representing an 87 per cent rise over the period.
The former vice president linked the increase to the economic policies of the administration of President Bola Tinubu and criticised the government over the continued growth in public borrowing.
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According to Atiku, the rising debt burden was occurring at a time when many Nigerian households were dealing with high costs of food, petrol and electricity.
He questioned the rationale for seeking additional borrowing from the World Bank while the country’s existing debt had continued to increase.
Atiku also argued that the growing debt would place a heavier financial burden on Nigerians and future generations, particularly if borrowed funds were not matched by improvements in economic conditions and living standards.
The fresh loan request comes amid ongoing debate over Nigeria’s borrowing levels, debt servicing obligations and the government’s approach to financing development and other public expenditure.
The DMO’s June 2026 debt figure covers the country’s reported public debt position, while Atiku’s N716,822 figure represents an estimated per-capita share derived from the total debt.
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