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Ibukun Awosika says many wealthy Nigerians live lavishly but owe debts
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Ibukun Awosika, a prominent Nigerian business leader, stated that many wealthy Nigerians maintain lavish lifestyles despite carrying significant debt. This situation highlights financial risks within Nigeria's affluent class, which could affect economic stability and consumer behavior in the country.
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- •Ibukun Awosika is a well-known Nigerian entrepreneur and former chairperson of First Bank of Nigeria.
- •She made the statement publicly on February 24, 2026.
- •The comment points to a trend of high spending among Nigeria's rich despite financial liabilities.
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- ▸If wealthy Nigerians reduce their debt levels it could lead to more stable personal finances and potentially increase investment in Nigeria's economy.
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