President Muhammadu Buhari

 

The Debt Management Office on Tuesday said that Nigeria’s total public debt rose by N3.32trn in 12 months to N25.7trn as at the end of June 2019.

According to the agency, the Nigerian Government owed N20.42trn as of June 30, 2019 while the 36 states and the Federal Capital Territory had a total debt profile of N5.28trn.

It said the debt stock is made up of N8.32trn ($27.16bn) external debt and N17.38trn borrowed domestically.

The nation’s public debt, which stood at N22.38trn as of June 2018, increased to N24.39trn in December 2018 and N24.95trn in March 2019, the DMO added.

 

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