Every Nigerian Now Owes N1 Million – Kenneth Okonkwo Breaks Down Tinubu’s 200 Trillion Debt

According to News Central TV on October 28, 2026, Barr. Kenneth Okonkwo has calculated that President Tinubu’s new borrowing will make every Nigerian owe one million naira.

Okonkwo, speaking as an economist, said $20.5 billion at 1,400 naira is 28.7 trillion and €1.04 billion at 1,500 naira is 1.5 trillion, totaling 30.2 trillion naira in one day.

He said with existing debt of over $100 billion, adding 30.2 trillion will push Nigeria’s total debt to almost 200 trillion naira, which divided among Nigerians equals one million naira per citizen.

He said: “They say that it is less than 5% of Nigerians that have up to 500,000 naira in their bank accounts. When you take the debt to 200 trillion naira, you have made every Nigerian to be owing 1 million naira.”

He lamented that Nigerians have no electricity, no infrastructure, no affordable fuel, yet they are being burdened with debt they did not benefit from, in a country where currency has been destroyed.

He questioned the government’s claim of having over $50 billion foreign reserve, saying Obasanjo used reserve to exit debt while this government uses it as excuse to borrow more.

Okonkwo said the debt is being imposed on people who cannot afford 500k in their accounts, describing it as economic wickedness against the poor.

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