Newborn in Nigeria Begins Life Owing N691,000, Says ActionAid

ActionAid Nigeria has warned that Nigeria’s growing debt means a newborn starts life owing N691,000.

Country Director Andrew Mamedu made the comment on Monday during a question‑and‑answer session on Arise Television.

He spoke about Nigeria’s rising debt in the context of the fuel subsidy removal and the floating of the naira.

“With Nigeria’s rising debt now, it means that a new born baby already starts life owing about N691,000,” Mamedu said.

“There is nothing wrong with responsive borrowing. Governments worldwide, from China to the US, borrow, sometimes above their annual budgets,” he added.

“But responsible borrowing depends on clear purpose and accountability, as outlined in fiscal responsibility principles,” the director continued.

“Borrowing should not be for consumption, and the key concern is transparency in how funds are used,” he said.

“Ideally, it should follow a clear fiscal plan and be directed only to productive capital projects that can generate returns and repay the debt,” Mamedu concluded.