Nigeria’s public debt up 20.2% to N39.56trn


Debt, DMO, Nigeria
Debt, DMO, Nigeria

By Emma Ujah, Abuja

Nigeria’s total public debt rose by 20.2 percent to N39.56 trillion ($95.77 billion) as at December 31, 2021, up from N32.92 trillion ($86.392 billion) in 2020, the Director-General (D-G) of the Debt Management Office (DMO), Ms. Patience Oniha, has stated.

Oniha disclosed this at a media interactive session in Abuja, yesterday, adding that the amount represented the total External and Domestic Debts of the Federal Government of Nigeria (FGN), the 36 State Governments and the Federal Capital Territory (FCT).

She said that the figure also included the N5.489 trillion new borrowings by the federal government as contained in the 2021 Appropriation and Supplementary Acts to part-finance Deficit.

The breakdowns shows that domestic debt was N23.7 trillion or 69.92 percent; while external debt was N15.855 trillion, representing 40.08 per cent.

The federal government portion of the debt was N33.228 trillion, with domestic accounting for N19.243…

Source: Vanguard Newspaper