DMO: Nigeria’s Total Public Debt Now N31tn
Nigeria is owing a total public debt of $85.897 billion (N31.009 trillion) as at June 2020, the Debt Management Office (DMO) has said.
In a data released by the DMO, the figure was $79.303 billion (N28.628 trillion) as at March 31, 2020.
The figure is made up of all debts owed by the federal government, states and the Federal Capital Territory (FCT).
The data shows: “The data shows that in naira terms, the total public debt stock, which comprises the debt stock of the federal government, the 36 state governments and the Federal Capital Territory stood at N31.009 trillion or $85.897 Billion. The corresponding figures for March 31, 2020, were N28.628 trillion or $79.303 billion.
“The increase in the debt stock by N2.381 trillion or $6.593 billion was accounted for by the $3.36 billion Budget Support Loan from the International Monetary Fund, New Domestic Borrowing to finance the Revised 2020 Appropriation Act, including the issuance of the N162.557 Billion Sukuk, and Promissory Notes issued to settle claims of exporters.”
In the data, a breakdown showed that federal government’s domestic debt stock as at June was N15.445 trillion while the 36 states owed N4.189trillion.
The foreign debt for the federal government as at June was $31.477 billion as against $54.419 billion recorded as domestic debt.
In the data, Lagos state government is owing N493. 318 billion as the most indebted state, followed by Rivers – N266.936 billion , Akwa Ibom – N239. 209 billion, Delta – N235,860 billion .
In a data released by the DMO, the figure was $79.303 billion (N28.628 trillion) as at March 31, 2020.
The figure is made up of all debts owed by the federal government, states and the Federal Capital Territory (FCT).
The data shows: “The data shows that in naira terms, the total public debt stock, which comprises the debt stock of the federal government, the 36 state governments and the Federal Capital Territory stood at N31.009 trillion or $85.897 Billion. The corresponding figures for March 31, 2020, were N28.628 trillion or $79.303 billion.
“The increase in the debt stock by N2.381 trillion or $6.593 billion was accounted for by the $3.36 billion Budget Support Loan from the International Monetary Fund, New Domestic Borrowing to finance the Revised 2020 Appropriation Act, including the issuance of the N162.557 Billion Sukuk, and Promissory Notes issued to settle claims of exporters.”
In the data, a breakdown showed that federal government’s domestic debt stock as at June was N15.445 trillion while the 36 states owed N4.189trillion.
The foreign debt for the federal government as at June was $31.477 billion as against $54.419 billion recorded as domestic debt.
In the data, Lagos state government is owing N493. 318 billion as the most indebted state, followed by Rivers – N266.936 billion , Akwa Ibom – N239. 209 billion, Delta – N235,860 billion .
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