Nigeria’s public debt rises by N24.33trn in 3 months – DMO

The Debt Management Office (DMO) has announced that Nigeria’s total public debt has surged to N121.67 trillion, reflecting a significant increase of N24.33 trillion, or 24.99%, over the past three months.

This updated figure, which was disclosed by the DMO in a statement issued on Thursday in Abuja, contrasts sharply with the N97.34 trillion total debt recorded as of December 2023.

The DMO clarified that the current debt includes both domestic and external obligations of the federal government, the 36 state governments, and the Federal Capital Territory (FCT).

The DMO’s report detailed, “As of March 31, 2024, Nigeria’s total public debt stood at N121.67 trillion (USD91.46 billion). For comparison, the total debt as of December 31, 2023, was N97.34 trillion (USD108.23 billion). The domestic debt amounted to N65.65 trillion (USD46.29 billion), while the external debt was N56.02 trillion (USD42.12 billion).”

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