Nigeria’s total public debt stock as of Dec.31, 2022, stands at N46.25 trillion (103.11 billion dollars).
This is according to a statement issued by the Debt Management Office (DMO) in Abuja on Thursday.
The DMO said the total public debt stock of the country consisted of the domestic and external debts of the Federal Government of Nigeria (FGN) and the sub-national governments.
The sub-national are the 36 state governments and the Federal Capital Territory (FCT) with comparative debt stock for Dec. 31, 2021 is N39.59 trillion (95.77 billion dollars)
DMO said in terms of composition, total domestic debt stock stood at N27.55 trillion (61.42 billion dollars), while total external debt stock was N18.70 trillion (41.69 billion dollars).
“Among the reasons for the increase in total public debt stock were new borrowings by the Federal Government and sub-national governments, primarily to finance budget deficits and execute projects.
“The issuance of promissory notes by the Federal…
