Nigeria’s Debt Management Office announced on Tuesday (15 October) that its national debt is now 25.7 trillion.
It was also found that government debt increased by N3.32 trillion in one year towards the end of June 2019. The country’s national debt, which amounted to N22.38 trillion from June 2018, rose to N24.39 trillion in December 2018. and N24.95trn in March 2019.
As at June 30, 2019, the Federal Government owed N20.42trn while the 36 states and the Federal Capital Territory debt portfolio stood at N5.28trn. The debt stock is made up of N8.32trn ($27.16bn) external debt and N17.38trn borrowed domestically.