Nigeria owing N35.5trn, local debt stands at N21 trillion

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Nigeria

Nigeria

*FG owes 29.5trn, states owe N6trn

*World Bank group, AfDB group dominate creditors’ list

*Bilateral creditors include China, France, Japan, Germany, India

By Emma Ujah, Abuja Bureau Chief

The nation’s public debt stock stood at N35.465 trillion as at June 30, Director-General of the Debt Management Office, DMO, Ms. Patience Oniha, disclosed yesterday.

Total Public Debt is composed of the domestic and external debt of the Federal Government, the 36 state governments and the Federal Capital Territory, FCT.

Nigeria’s total public debt stock was N33.107 trillion or USD87.239 billion, as at March 31, 2021.

This indicated a N2.358 trillion rise in the debt stock from the end of the first quarter of the year to the end of the second quarter.

A breakdown of the public debt figure under review indicated that that external debt was N13.711 trillion, representing 38.66 per cent.

On the other hand, domestic debt was N21.754 trillion, representing 61.34…



Source: Vanguard Newspaper