Nigeria’s public debt hit a total of N32.2tn at the end of September, the Debt Management Office announced on Thursday.
The figure implies that the nation’s debt profile rose by N1.19tn between the second and third quarter of 2020.
According to a breakdown provided by the DMO on its website, the Federal Government’s total debt stood at N28tn as of September 2020 while the debt of the states and the Federal Capital Territory stood at N4.19tn.
Further disaggregation of Nigeria’s public debt showed that the domestic debt is 20tn 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 $84.57bn.
__________
Follow us on Twitter at @thesignalng
Copyright 2020 SIGNAL. Permission to use portions of this article is granted provided appropriate credits are given to www.signalng.com and other relevant sources
