Nigeria’s Debt Rises to N27.4 Trillion Says DMO

• Nigeria’s Debt Rises to N27.4 Trillion Says DMO

The Debt Management Office on Wednesday said the nation’s total public debt rose to N27.4 trillion as of December 2019.

In the latest figures released by the DMB, the debt rose by N1.18 trillion from N26.22 trillion recorded in September 2019 to N27.4 trillion in December of the same year.

This includes both the external and domestic debt portfolios of the Federal Government and the states.

A breakdown of the report shows domestic debt accounted for 67.7 percent or N18.3 trillion of the total debt stock.

The Federal Government’s share of domestic debt portfolio was N14.2 trillion or 52.09 percent while the states and FCT owed N14.1 trillion or 14.99 percent.

The total external debt stood at 9.02 trillion or 32.93 percent of the total debt portfolio with the Federal Government owing N7.5 trillion or 27.50 percent of the total debt. While the states and the FCT owe N1.4 trillion or around 5.43 per cent of the total debt portfolio.