Nigeria’s Debt Raises To N49.87 Trillion
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The Debt Management Office has revealed that Nigeria’s total foreign debt for the period ending March 31st, 2023, has risen to N49.85 trillion ($108.30 billion) from N46.25 trillion as of December 21st, 2022.
DMO revealed this in a statement released and shared on its Twitter handle on Friday.
Part of the statement noted that the total public debt containing the external and domestic debts of the Federal Government, the 36 states, and the Federal Capital Territory was N49.85 trillion.
“Comparatively, the total public debt stock for the preceding period, December 31, 2022, stood at N46.25 ($103.31 billion). During the period, there was an increase in the debt stock of the Federal Government, states, and FCT.
The Public Debt Stock for March 2023 does not include the FGN’s N22.719 trillion Ways and Means Advances of the Central Bank of Nigeria, whose securitization was approved by the National Assembly in May 2023. The amount will be included in the FGN’s Domestic Debt Stock from June 2023.”
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