Debt per capita is how much debt a government has per citizen. According to Investopedia, it is often calculated at the national level, but it also applies at the state and even municipal government levels. The level of net debt per capita can be an important factor to consider when analyzing a government's ability to continue to pay its debt service costs through its current levels of tax revenue. In other words, net debt per capita can be used to help evaluate the default risk of government bonds and give an indication of overall economic health.
A look at the data for the total debt (Domestic and External) of all the states in Nigeria shows that States in the southern part of the country are more likely have a higher debt burden per resident than their northern counterparts with Lagos having the highest per capita debt in the country.
