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Nigeria’s Debt Rises By N3trn In One Year

Nigeria’s public debt has risen from N25.7 trillion to N29.02 trillion as at the end of June 2019, an increase of N3.32 trillion, the Debt Management Office has said.

The Federal Government owed N20.42 trillion as of June 30, 2019, while the 36 states and the Federal Capital Territory had a total debt portfolio of N5.28 trillion.

The debt stock is made up of N8.32 trillion ($27.16 billion) external debt and N17.38 trillion borrowed domestically, according to the DMO.

The nation’s public debt, which stood at N22.38 trillion as of June 2018, increased to N24.39 trillion in December 2018 and N24.95 trillion in March 2019.

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