Nigeria’s debt rises to N22.38tn –DMO

Aug 14, 2018

The nation’s debt profile has risen to N22.38 trillion within the last six months, the Debt Management Office (DMO) has said.

The current debt profile indicates 3.01 percent increase from N21.68 trillion recorded at end of December 2017.

Addressing newsmen in Abuja on Tuesday, the DMO attributed the increase to the $2.5bn Eurobond issued by the Federal Government in February.

The debt office said, “The total public debt which encompasses the domestic and external debt stock of the Federal and 36 State governments and the Federal Capital Territory stood at N22.38 trillion or $73.21 billion as at June 30, 2018.

“When compared to the debt data for March 2018, the public debt stock actually decreased by 1.44 percent from N22.71 trillion in March 2018 to N22.38tn in June 2018.

“The decrease was due to a 3.38 percent decline in the FGN’s domestic debt stock between March and June 2018 There were however marginal increases of 0.07 percent in the external debt stock and 2.75 percent in the domestic debt of states.”

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