With President Muhammadu Buhari’s fresh request to borrow additional $4.054bn and €710m external loans, Debt Management Office (DMO) disclosed on Wednesday that Federal, state governments and Federal Capital Territory (FCT) owed a total of N35.465 trillion as of the end of June 2021.
This is aside from the at least N10 trillion overdraft taken from the Central Bank of Nigeria (CBN) that is already long overdue for settlement.
The figure is an increase of N2.358 trillion in the debt stock from the end of the first quarter of the year to the end of the second quarter.
The total debt figure stood at N33.107 trillion or USD87.239 billion as of March 31, 2021.
The debt stock is made up of…
Source: Nigerian Tribune