Post by Henry Emeka (@Emekus)

Why is Nigeria still in poverty and darkness?
Even with all the loans, oil, and investments, Nigeria is still struggling because of a mix of deep structural problems:

Debt and weak revenue:

Public debt is around ₦150+ trillion (about $97–100 billion) as of 2025.

Debt service has eaten up a huge share of government revenue—at one point over 100% of federal revenue, meaning almost everything earned went to pay past loans.

Corruption and leakages:

Money meant for power, roads, hospitals, and jobs is often diverted, inflated, or wasted through bad contracts and theft.

Projects are started, half-done, then abandoned—but the loans remain.

Power sector failure:

Nigeria has the capacity to generate far more electricity than it actually delivers, but:

Poor transmission infrastructure

Vandalism and theft

Regulatory confusion and debts in the power value chain
keep the country in darkness.

Jobless growth:

IMF and others note that growth is driven by oil and services, while agriculture and manufacturing—big job creators—are weak.

So GDP can grow while youths remain jobless.



https://dailytrust.com/nigerias-rising-debt-profile-context-risks-and-the-road-ahead/?utm_source=copilot.com


https://www.dmo.gov.ng/debt-profile/total-public-debts?utm_source=copilot.com

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