Nigeria’s debt rises to ₦32.2 trillion

The Debt Management Office says Nigeria’s debt stock has risen to ₦32.223 trillion as at September 2020. The DMO made this known in its third-quarter country debt data released on Thursday in Abuja. The statement explained that Nigeria’s debt stock grew by ₦1.214 trillion between June 2020 and end of September 2020.

According to DMO, “the Total Public Debt Stock stood at N32.223 Trillion or USD84.574 Billion.” The Debt Stock is made up of the Domestic and External Debt Stocks of the Federal Government of Nigeria (FGN), the 36 State Governments and the Federal Capital Territory (FCT).

The DMO Public Debt figures show that 37.82% represents External debts, while the balance of 62.18% is Domestic.

– Vanguard