{"id":4734,"date":"2026-10-31T06:17:31","date_gmt":"2026-10-31T06:17:31","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/10\/31\/nigerias-debt-profile-troubling-archbishop-onuoha-warns\/"},"modified":"2026-10-31T06:17:31","modified_gmt":"2026-10-31T06:17:31","slug":"nigerias-debt-profile-troubling-archbishop-onuoha-warns","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/10\/31\/nigerias-debt-profile-troubling-archbishop-onuoha-warns\/","title":{"rendered":"Nigeria\u2019s debt profile troubling, Archbishop Onuoha warns"},"content":{"rendered":"
\"Nigeria\u2019s<\/p>\n

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By Chidi Nkwopara<\/strong><\/p>\n

OWERRI \u2014 The Anglican Archbishop of Owerri, Most Rev. David O. C. Onuoha, has expressed concern over Nigeria\u2019s rising debt profile, questioning the Federal Government\u2019s continued resort to borrowing amid the country\u2019s economic challenges.<\/p>\n

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Onuoha raised the concern on Thursday while flagging off the Provincial Council meeting at St. Paul\u2019s Anglican Church, Avutu, Obowo Local Government Area of Imo State.<\/p>\n

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He expressed concern over what he described as the willingness of the National Assembly to approve more borrowing requests by the present administration.<\/p>\n

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His words: \u201cWe are disturbed at the debt profile of Nigeria and the penchant, as well as willingness of the National Assembly to give approval for more borrowings by the present administration.<\/p>\n

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\u201cRecent release by the Debt Management Office, DMO, on September 25, 2026, shows that every Nigerian is owing between N702,185 and N716,822.<\/p>\n

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\u201cThis was arrived at by simply dividing the nation\u2019s total public debt of N166.79 trillion, as at June 2026 across an estimated population of roughly 237 million people.<\/p>\n

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\u201cThe same office also stated that in the first half of 2026, Nigeria spent N5.28 trillion on domestic debt service and $1.82 billion on external debt service.<\/p>\n

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\u201cNote that these humongous amounts are not debt repayment, but servicing.\u201d<\/p>\n

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The cleric blamed corruption for what he described as the failure of Nigerians to enjoy the benefits of loans obtained by successive administrations, despite the burden of repayment being passed on to future generations.<\/p>\n

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He questioned why the government continued to borrow without making deliberate efforts to tackle corruption in the country.<\/p>\n

Onuoha further argued that reforms, regardless of their intentions, could not deliver the desired results in an environment where corruption persisted.<\/p>\n

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\u201cNo reform, no matter how well intentioned, will produce the desired result in any society where corruption thrives,\u201d he said.<\/p>\n

The archbishop also criticised the government\u2019s economic policies, saying they had worsened poverty, hardship and suffering among Nigerians.<\/p>\n

The post Nigeria\u2019s debt profile troubling, Archbishop Onuoha warns<\/a> appeared first on Vanguard News<\/a>.<\/p>\n<\/div>\n

Source: <\/p>\n

Vanguard News<\/div>\n","protected":false},"excerpt":{"rendered":"

By Chidi Nkwopara OWERRI \u2014 The Anglican Archbishop of Owerri, Most Rev. David O. C. Onuoha, has expressed concern over Nigeria\u2019s rising debt profile, questioning the Federal Government\u2019s continued resort… <\/p>\n","protected":false},"author":1,"featured_media":4735,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-4734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/4734","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=4734"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/4734\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media\/4735"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=4734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=4734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=4734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}