Nigeria’s public debt hits N97trn –DMO

THE SUN

Nigeria’s public debt stock as at December 31, 2023 has hit N97.341 trillion (108.229 billion dollars), data released by the Debt Management Office (DMO) in Abuja has shown

The DMO said that the amount comprised domestic and external debt stocks of the Federal Government, the 36 states governments and the Federal Capital Territory (FCT).

The debt office said that there was an increase of N9.43 trillion over the comparative figure for September 30, 2023.

It said that the increase was largely due to new domestic borrowing by the Federal Government to part – finance the deficit in the 2024 budget, and disbursements by multilateral and bilateral lenders.

“At N59.12 trillion, total domestic debt accounted for 61 per cent of the total public debt stock, while external debt at N38.22trillion accounted for the balance of 39 per cent,” it said.

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