Nigeria’s total debt rises to N41.6tn in Q1 2022

The Debt Management Office has reported that Nigeria’s total public debt stock as at March 31, 2022, was N41.60 trillion.

The amount represents the domestic and external debt stocks of the Federal Government of Nigeria, the thirty-six state governments and the Federal Capital Territory. The comparative figures for December 31, 2021, were N39.56tn.”

According to the DMO, the total public debt stock includes new domestic borrowing by the FGN to partly finance the deficit in the 2022 Appropriation Act, the $1.25bn Eurobond issued in March 2022 and disbursements by multilateral and bilateral lenders.

There were also increases in the debt stock of the state governments and the FCT.

Source: Nigeria’s total debt rises to N41.6tn in Q1 2022 – StocksWatch (stocksng.com)

Related Posts

25

May
Business & Economy

Stock Market Review: May 25, 2023

The stock market on Wednesday closed on a positive note with 0.58% growth. The All Share Index and Market Capitalisation stands at 52,927.60 points and 28.819 trillion respectively. In a stock market review with Gilbert Ayoola, a capital market expert, the following were discussed: Excerpts: The monetary policy committee of CBN has increased MPR to 18.5%. How will this […]

25

May
Business & Economy

Oando kicks-off Sustainable Transport Initiative in Lagos State with launch of Electric-Mass Transit buses

Oando Clean Energy Limited (OCEL) has achieved a groundbreaking milestone with the launch of the first phase of its Sustainable Transport Initiative for Lagos State. The initiative will see OCEL introducing electric buses to LAMATA’s current fleet of buses. The endeavor aims to support the transformation of the State’s public transport system through the development and deployment[…]