The duality of wealth and debt in Africa is clear, and at the forefront of the countries facing a crisis is Nigeria. Nigeria is the largest economy in Africa, the largest oil producer, and the largest population on the continent.

The country's external debt outstanding at the end of 2004 had risen to nearly $36 billion. External debts increased during Buhari's era from $7.3 billion in 2015, to reach $43 billion in 2023. The International Monetary Fund warned of the crises hitting the Nigerian economy, warning of its repercussions.