society
Incredible! How Each Nigerian Owes ₦155,000
Interestingly, the Debt Management Office, DMO, has announced that the total debt stock of Nigeria rose to N31 trillion as of June 2020.
It also said the debts are expected to rise this year following more debts to be sourced from international financiers.
As of March 2020, the debt was at N28.6trn comprising all debts of the Federal Government, the 36 state governments and the Federal Capital Territory (FCT).
The latest debt total of N31.009trn debt is about $85.897 billion while that of March which was N28.628trn was about N79.303bn.
Cause of increase
The debt stock grew by N2.38trn or $6.59bn within the three months interval.
The additional increase was due to the $3.36bn Budget Support Loan from the International Monetary Fund IMF), new Domestic Borrowing to finance the Revised 2020 Appropriation Act, the issuance of the N162.557bn Sukuk, and Promissory Notes issued to settle Claims of Exporters.
The components of the debts are:
The multilateral debts are the highest of the stock of N16.360trn accounting for 51.97% of the total stock. The 10 agencies include IMF, World Bank Group, the African Development Bank (AfDB) Group, Eurobonds and Diaspora bonds.
The bilateral debts account for N3.948trn representing 12.54% of the debt stock taken from the international development agencies of China, France, Japan, India and Germany.
The third debt category is the commercial debt which is N11.168trn and represents 35.48% of the debt. This is the second largest debt after those of the multilateral agencies with Eurobonds and Diaspora bonds accounting for them.
Further rise
The debt stock will rise with the expected borrowing from the World Bank, African Development Bank and the Islamic Development Bank which were arranged to finance the 2020 Budget Appropriation.
The Nigeria Customs Service was recently given part of these funds to automate its services at the ports, to the tune of $3.1 billion.
Most of the loans are long term facilities with the repayment beginning already while the fresh loans’ repayment begin from 2022.
On the Sukuk bonds and other domestic bonds, their maturity periods are often between five and seven years for the repayment.
What you owe
The ministry of finance recently said there are plans made for the loans to be repaid. So far in the 2020 budget, over N3 trillion or a quarter of the budget is dedicated to debt servicing, for repaying the debts.
At N31 trillion, every Nigerian from the over 200 million population owes the debtors N155,000 in debt.
This debt per Nigerian will rise further when the loans from World Bank, AfDB and IsDB comes in later this year.
DAILY TRUST
society
Lagos 2027: Obasa hosts Hamzat, Promises Support for Governorship Bid
Lagos 2027: Obasa hosts Hamzat, Promises Support for Governorship Bid
The Speaker of the Lagos State House of Assembly, Rt. Hon. (Dr.) Mudashiru Ajayi Obasa, on Thursday, played host to Deputy Governor Dr. Obafemi Hamzat at his official residence in GRA, Ikeja, promising to galvanise his expansive political structure to ensure Hamzat’s victory at the forthcoming governorship election.
Dr Hamzat is the presumptive APC candidate for the Lagos governorship seat, and the engagement was part of his ongoing strategic consultations with All Progressives Congress (APC) stakeholders and leaders.
Speaker Obasa extolled Hamzat’s pedigree, commitment to infrastructure development, and loyalty to the party, adding that for the continued development of Lagos State, every discerning electorate must rally round him.
“I just returned from Abuja, and the conversation remains the same – Dr. Kadri Obafemi Hamzat is the next Governor of Lagos State. You have demonstrated unquestionable loyalty to our great party and even greater competence in serving Lagos. We love you, we support you, and we will do everything to ensure that we win the election,” Speaker Obasa declared.
Responding, Dr Hamzat expressed gratitude for the warm reception while highlighting Obasa’s legislative experience and political network, which he said are invaluable. He reiterated his focus on collaborative governance, saying, “Lagos is a collective project. My consultations are not about personal ambition but about ensuring continuity, innovation, and inclusive development for our people,” Hamzat said.
society
Police Repel Coordinated Kidnap Attack In Sokoto, Launch Manhunt
Police Repel Coordinated Kidnap Attack In Sokoto, Launch Manhunt
Security operatives in Sokoto State have foiled a coordinated kidnapping attempt by armed bandits targeting two communities, killing one suspect and launching a manhunt for others who escaped with injuries.
According to a statement by the Police Public Relations Officer of the command, Ahmad Rufa’i, the operation was carried out in the early hours of Thursday following a distress call received at about 12:30 a.m. reporting simultaneous attacks on Illela Village, also known as Achida Town, and Kwargaba Hamlet.
“The Anti-Kidnapping Unit, in collaboration with other tactical teams, responded swiftly to the distress call,” he said. “Our operatives, who were already on high alert, engaged the bandits in a fierce gun duel and successfully repelled the attack.”
Rufa’i disclosed that the security forces overpowered the assailants after a prolonged exchange of gunfire, neutralising one suspect who was dressed in military camouflage, while others fled with gunshot wounds into the nearby Gundumi Forest.
“An intensive manhunt is ongoing to track down the fleeing suspects who escaped into the forest with varying degrees of injuries,” he added.
However, before the arrival of security personnel, the bandits reportedly shot and killed a member of the Kwargaba community vigilante group. His body has since been recovered and released to his family for burial.
The police spokesperson urged residents to remain vigilant and report any suspicious movements or individuals to the nearest security agency, assuring that efforts are being intensified to ensure the safety of lives and property across the state.
society
The Kendrick Brothers, Cameron Arnett, Kingdom Story Company, Bright Wonder Obasi Train 60 Christian Filmmakers in Nigeria
The Kendrick Brothers, Cameron Arnett, Kingdom Story Company, Bright Wonder Obasi Train 60 Christian Filmmakers in Nigeria
Abuja, Nigeria – April 23, 2026
Successful actors, producers and movie makers like; the Kendrick Brothers, Cameron Arnett, Kingdom Story Company, Bright Wonder Obasi were among the facilitators who trained 60 Christian Filmmakers in Nigeria at the just concluded Africa Gospel Film Project (AGFP) 2026.
The groundbreaking 6-day Intensive Filmmaking Masterclass and Spiritual Formation Program, were 60 emerging Christian filmmakers from Nigeria and Zambia were trained in Abuja was held at the Gospel Cinema International /High Definition Film Academy (HDFA) Facility in Gwarinpa.
The program brought together a distinguished lineup of facilitators from Nigeria and the United States, positioning AGFP as a leading platform for faith-based filmmaking development in Africa.
Among the international facilitators was Stephen Kendrick of the Kendrick Brothers, known for films such as The Forge, War Room, Facing the Giants, and Courageous, Overcomer, Fireproof, who delivered a powerful session titled “Heart of The Filmmaker.” Also featured was Cameron Arnett, who led sessions on “Christ Over Career” and acting for film.
Other notable speakers included Nick Carey (Kingdom Story Company), who spoke on “The Making of a Faith-Based Blockbuster Movie,” as well as Bob Saenz (Screenwriting Masterclass), Beverly Holloway (Acting Masterclass), David Cook, Adam Drake, Prince Daniel (Aboki), Lummie Adevbie, Chris Odeh, and Jennifer Keltner (Identity & Storytelling), among others.
The program opened with a strong spiritual foundation, including worship and a keynote by the Convener, Bright Wonder Obasi, titled “Calling & Identity: Film as Spiritual Influence/Programming,” which challenged participants to view storytelling as a tool for cultural and spiritual transformation.
Participants were grouped into four production studios—House of Gideon, House of Caleb, House of Joshua, and House of David—and underwent three days of intensive masterclasses and workshops across screenwriting, directing, cinematography, acting, editing, and producing, alongside deep spiritual formation.
On Day 4, teams developed and pitched short film concepts for professional review and approval. Day 5 was dedicated to full-scale production, with all four teams executing their projects under real industry conditions.
The program culminated on Day 6 with:
A Pitch-A-Thon, where 20 filmmakers presented original projects for funding and collaboration.
A public screening of four short films produced during the program
Professional feedback from a panel of judges.
Certification of all participants
Awards for best Screenplay, Cinematography, directing, editing, acting, and overall best short film.
The closing ceremony featured a powerful commissioning session led by Pastor Ikenna Okeke, where participants were prayed for and consecrated as “God’s Creative Army.”
Speaking after the event, the Convener, Bright Wonder Obasi, described AGFP 2026 as “a movement to raise storytellers who will shape culture and influence nations through truth-driven films.
Films that honor God”
With its successful debut, AGFP is now preparing for its next edition, following its mandate to train 300 Christian filmmakers across Africa and develop a slate of six global faith-based films over a three-year period.
The Africa Gospel Film Project continues to position itself as a catalyst for purpose-driven storytelling, industry excellence, and spiritual transformation in African cinema.
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