Nigeria’s Total Debt Hits N44.06 Trillion

December 10, 2022 by Delia Innoma 0 Comments

Nigeria’s total debt stock has risen to N44.06 trillion on the back of borrowings by Federal and State Governments.

A statement by the Debt Management Office ON Thursday in Abuja explained: “as at September 30, 2022, Nigeria’s Total Public Debt Stock which comprises the Total Domestic and External Debt Stock of the Federal Government of Nigeria (FGN), all State Governments and the Federal Capital Territory (FCT) stood at N44.06 trillion”.

The DMO attributed the increase in the debt stock to “largely new borrowings by the Federal Government to part-finance the deficit in the 2022 Appropriation Act, as well as, new borrowings by sub-nationals”.

-The Nation

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About Delia Innoma

Delia Innoma is a prolific writer, promoter, artist manager with full professional proficiency in English, German and Igbo languages. She studied accounting and computer programming at the Institute of Management and Technology Enugu and Germany respectively. Delia is also a devoted mother of two and she founded the Diamond Celebrities Magazine. Her sense of responsibility and commitment to the Christian faith are essential forces driving her daily activities.

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