Connect with us

Hi, what are you looking for?

Business

Nigeria’s Local, Foreign Debt Rises From N21.7tn To N24.3tn

Nigeria’s total debt profile now stands at N24.3 trillion as of December 2018, the Debt Management Office has said.

The Director-General of the DMO, Mrs Patience Oniha, disclosed this at a press conference in Abuja on Thursday.

She explained that the figure rose by 24 .3 per cent from N21.7 trillion in 2017.

“The debt stock did increase by 12.25 per cent in naira terms. As of December 31 2017, it was at N21.725 trillion; by December 31 2018, it was N24.387 trillion,” the DMO boss said

She added, “The figure here is total public debt. So, it includes the FG, 36 state governments, and FCT, and it includes both foreign and domestic.”

Oniha said the Federal Government’s domestic debt stock include N331.12 billion promissory notes issued to oil marketing companies and state governments in December 2018.

_______

Follow us on Twitter at @thesignalng

Copyright 2019 SIGNAL. Permission to use portions of this article is granted provided appropriate credits are given to www.signalng.com and other relevant source.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

Related

News

Minister of Works, Dave Umahi, says the Federal Government will toll all major roads in the country upon completion of construction and renovation. “We...

News

Nigeria’s debt is expected to hit N77 trillion in the coming year, according to the Debt Management Office (DMO), Channels Television reports. The Director...

News

The Federal Government’s total borrowing from the Central Bank of Nigeria through Ways and Means Advances rose from N17.46tn in December 2021 to N19.91tn...

News

The Debt Management Office on Thursday said Nigeria’s total public debt stock increased to N39.56tn in 2021 from N32.92tn in 2020, Punch reports. The...

Copyright ©