ActionAid Nigeria raised concerns over the nation’s debt, now at N134.3 trillion as of June 2024.
This debt translates to an individual burden of N619,501, outstripping the new N70,000 minimum wage.
The group’s director, Andrew Mamedu, urged fiscal prudence, emphasizing the need for progressive taxation and reduced government expenditures.
ActionAid stressed that unchecked borrowing, despite subsidy savings, threatens economic stability, deepening poverty and inequality.
