NIGERIA’S DEBT RISES TO N87.91TRN, EXTERNAL PORTION DROPS
Written by Oyebamiji Idowu on December 21, 2023
According to data released by the Debt Management Office (DMO), Nigeria’s total public debt rose slightly from N87.38 trillion in June to N87.91 trillion at the end of September.
The N87.91 trillion comprises the domestic and external debts of the Federal Government of Nigeria, 36 state governments and the Federal Capital Territory.
The country’s external debt decreased for the first time in a year, according to an analysis of data from the DMO.
The total external debt dropped from $43.16 billion in June to $41.59 billion as of September while the domestic debt increased by N1.80 trillion.
The DMO said the total domestic debt service from July to September was N1.79 trillion.