Nigeria’s debts hit N32.2trn in 2020– DMO
Nigeria’s public debt has risen to N32.2 trillion at the end of September, the latest figures from the Debt Management Office (DMO) has revealed.
The figure implies that the nation’s debt profile rose by N1.19 trillion between the second and third quarter of 2020.
According to the DMO, the Federal Government’s total debt stood at N28 trillion as of September 2020, while the debt of the states and the Federal Capital Territory stood at N4.19 trillion.
Further breakdown of the public debt profile showed that the domestic debt is 20trillion or 62.18 per cent of the total debt while foreign debt is 37.82 per cent.
In dollar terms, Nigeria’s total debt is $84.57 billion.
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