Reacting to the latest debt figures, Alaje said the country’s growing debt stock means higher repayment and servicing costs, which are ultimately funded through taxes and government revenue.

He explained that the ₦159 trillion debt reported by the Debt Management Office represents all outstanding loans owed by both the federal and state governments, with no cancellations or write-offs.

“The higher our debt stock, the higher the cost of servicing it,” he said, adding that increasing borrowing will continue to put pressure on the economy.

Alaje projected that Nigeria’s debt could rise further in the coming years, warning that it may exceed $160 billion by 2026 as new loans are added.

According to him, the country’s debt continues to grow as new borrowings are approved, adding to an already heavy fiscal burden.

DMO data shows Nigeria’s total public debt stood at ₦159.28 trillion as of December 2025, up from ₦153.29 trillion in the previous quarter.

The figure reflects both domestic and external debt, with domestic borrowing accounting for the larger share.

With Nigeria’s population estimated at about 220 million, the debt translates to roughly ₦724,000 per citizen.

Alaje warned that inflation and rising debt servicing costs are reducing purchasing power and worsening economic pressure on households.

He said the burden of repayment will ultimately fall on citizens through taxes, and in the long term, even future generations.

“The entire citizens will pay… and yes, the unborn generation will also pay,” he said.

The economist added that despite claims of improved revenue, government spending needs continue to outpace income, making borrowing unavoidable as a short-term solution.

He concluded that unless revenue growth matches rising expenditure, Nigeria’s debt burden will continue to increase.

The Independent National Electoral Commission (INEC) has fixed the poll for August 8.

Incumbent Governor Ademola Adeleke defeated APC’s Gboyega Oyetola in the 2022 election, but the political landscape has since shifted, with Adeleke now contesting under the Accord Party following internal PDP disputes.

Concerns have been raised over the new party’s limited grassroots structure in Osun, a factor analysts say could affect his re-election bid.

The race is expected to be highly competitive, with the African Democratic Congress (ADC) also emerging as a strong contender.

APC National Secretary, Ajibola Basiru, speaking during a media chat on Wednesday, admitted the election would be tough but said the party remains confident.

He said the APC is already building a strong grassroots campaign structure across constituencies, senatorial districts, and key stakeholder groups in the state.

Basiru added that the party is adopting a data-driven strategy aimed at securing victory in the poll.

Community sources told Sahara Reporters that the victims were mostly breadwinners, leaving several families devastated and deepening fears over continued violence in the area.

A resident described the killings as a heavy human tragedy, stressing that the victims should not be reduced to statistics.

He said the names must be made public so the world understands the true cost of the attacks, noting that those killed were fathers, sons, and community leaders whose absence would be deeply felt.

Among the victims was 31-year-old Elaigwu Pelu, a father of four who had struggled to rebuild his life after losing his parents early.

Others include 62-year-old Oigene Ogah, a father of 15 children, and 78-year-old Adah Aboje, who reportedly raised 35 children.

Also killed were 59-year-old Peter Omafu, father of 13; 33-year-old John Peter Musa, father of two; and 31-year-old Ogagwu John, father of three.

Others are 30-year-old Eluma Ogbeni, who supported four children; 39-year-old John Elegbo, father of five; and 29-year-old Gideon Monday, described as an only son.

Residents said the attack has left many households without their primary providers, worsening the humanitarian situation in the area.

The latest killings come shortly after another attack in Mbatsaida community, where about 11 people were also reportedly killed, forcing many residents to flee.

The affected settlement has since been deserted, with homes abandoned and farmlands left untended as displaced persons now seek refuge in neighbouring communities.

Local traditional ruler, Chief Gbakaa Lorpine, said the crisis dates back to 2014, alleging that repeated warnings to authorities had gone unheeded.

He recalled earlier attacks in which several villagers were killed, and described the latest incident as sudden and brutal, saying he narrowly escaped during the assault.