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)

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