Nigeria’s debt hit N25.7trn in June – DMO reveals

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Nigeria’s debt has risen to N25.7 trillion as at June 2019, according to the Debt Management Office. The DMO said this total debt is both domestically and externally.

The News Agency of Nigeria (NAN) reports that as at December 31, 2018, Nigeria’s total debt stock stood at N24.38 trillion.

The present figure shows an increase in the debt stock of N1.32 trillion.

The DMO said that the current total debt stock comprised both the Federal Government debt, that of the 36 states and the Federal Capital Territory (FCT).

For the Federal Government, the DMO said it owed N20.42 trillion, while the states and FCT owed N5.27 trillion.

Of the Federal Government debt, N7.01 trillion was categorized as external debt, while N13.412 trillion was categorized as domestic debt.

For the states and the FCT, N1.309 trillion was owed externally, while N3.966 trillion was owed domestically, the DMO said.

Giving details of the Federal Government’s domestic debt stock by instrument, the DMO said Bonds accounted for N9.691 trillion and Treasury Bills N2.651 trillion.

Others are Treasury Bonds N125.9 billion, Savings Bond N10.431 billion, Sukuk N200 billion, Green Bond N25.69 billion and Promissory Notes N707.7 billion.

Meanwhile, for debt service in the second quarter of 2019, the DMO said that the nation had spent N76.951 billion.

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About Emmanuel Ebimoh 461 Articles
Emmanuel Ebimoh is a Writer, Poet, Editor, and Football Enthusiast. He writes from Lagos, Nigeria. You can reach him on emmyebimoh@gmail.com

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