Business
Nigeria’s public debt rises to mere N46.25 trillion
Nigeria’s total public debt stock increased to N46.25 trillion or $103.11 billion as of December 2022, the Debt Management Office (DMO) disclosed on Thursday.
According to the DMO, the new figure is made up of the domestic and external total debt stocks of the Federal Government and the sub-national governments (36 state governments and the FCT.
The DMO on Thursday stated that the comparative figure of public debt as of December 31, 2021, was N39.56 trillion or $95.77 billion.
This means that the country’s debt increased by N6.69trn within one year. The DMO statement partly read, “As of December 31, 2022, the Total Public Debt Stock was N46.25 trillion.
“In terms of composition, total Domestic Debt Stock was N27.55 trillion while Total External Debt Stock was N18.70 trillion.
Amongst the reasons for the increase in the total public debt stock were new borrowings by the FGN and sub-national governments, primarily to fund budget deficits and projects.
-
News2 days agoFRSC opens 2026 nationwide recruitment, online applications begin July 3
-
Football7 days agoAfrica breaks World Cup record with seven teams in knockout stage
-
Entertainment4 days agoActress Cossy Ojiakor shares flooded home as heavy rainfall wreaks havoc in Lagos
-
Football1 week agoNetherlands to face Morocco, Brazil draw Japan in 2026 World Cup round of 32
-
Business1 week agoNAFDAC, FCCPC others partners OSOA Foods advocacy on food safety, MSME growth
-
Business6 days agoLogistics bottlenecks threaten Nigeria’s economic growth, industry leaders warn
-
Business6 days agoInflation, high interest rates loom as FG credit hits N40.38tn
-
Business1 week agoLagos leads as States receive N2.49tn FAAC allocation in Q1 2026