Nigeria’s Debt Profile Rises By N1.23 Trillion Within Three Months, As Total Hits N28.63 Trillion

July 3, 2020
95 Views

The Debt Management Office (DMO) on Thursday announced that the total public debt portfolio of Nigeria has risen to N28.63 trillion within a space of three months, from December 2019 to March 2020.

In its Public Debt Portfolio report released on Thursday night, the DMO explained that the country’s total debt rose from the N27.4tn recorded in December 2019 to N28.63tn in March 2020.

This indicates that within a space of three months, the country’s public debt portfolio grew by N1.23tn, representing 4.48 per cent.

Nigeria’s total external debt obligations as of the end of March this year stood at N9.99tn, the debt office also stated.

The N9.99tn is about N970bn higher than N9.02trn which was recorded as external debt obligations in December 2020.

The debt office said the country’s domestic debt was N18.64tn, representing 65.11 per cent of the Nigeria’s debt stock.

KanyiDaily recalls that last weeks the World Bank approved another $750 million loan to the Nigerian Government to improve the power supply in Nigeria.

You may be interested

Most revealing story of Dokpesi’s life’s journey into polygamy, regrets
News
1 views
News
1 views

Most revealing story of Dokpesi’s life’s journey into polygamy, regrets

Webby - October 10, 2021

Spread the loveAs the owner of DAAR Communications Plc, Raymond Dokpesi, celebrates his 70th birthday, reflections on his past have…

Edo PDP crisis: 12 ward chairmen, elected members in Oredo LG disassociate selves from suspension of Oredo LG chairman
News
4 views
News
4 views

Edo PDP crisis: 12 ward chairmen, elected members in Oredo LG disassociate selves from suspension of Oredo LG chairman

Webby - October 10, 2021

  Elected executive members, all the 12 ward chairmen of the Peoples Democratioc Party (PDP) in Oredo Local Government Area have disassociated…

2022 WCQ: Balogun, Osimhen On Target As Super Eagles Pip CAR 2-0 In Douala
Sports
4 views
Sports
4 views

2022 WCQ: Balogun, Osimhen On Target As Super Eagles Pip CAR 2-0 In Douala

Webby - October 10, 2021

The Super Eagles revived their hopes of securing a place at the 2022 FIFA World Cup in Qatar following a…

Leave a Comment

Your email address will not be published.