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HomeNewsPoliticsNigeria's Debt Profile Hit N32.2 Trillion

Nigeria’s Debt Profile Hit N32.2 Trillion

Total public debt stock of the Federal Government of Nigeria (FGN), the 36 state governments and the Federal Capital Territory, FCT, has hit N32.223 trillion.

The Nigeria’s debt profile climbed from N31.009 trillion as of June 30, 2020 to N32.223 trillion ($84.574 billion) by September 30.

The latest debt statistics which were released by the Debt Management Office, DMO, indicated a growth of N1.214 trillion or 3.91 per cent increase.

Total domestic debt stood at $52,589.01 billion, with the federal government accounting for $41,591.16 billion while states and the FCT accounted for $10,997.86 billion.

the FGN alone accounts for a total of $31,985.17 billion external debt.

The new figure, released yesterday by the DMO, is made up of the domestic and external debt stocks of the FGN, the 36 state governments and the FCT.

A breakdown showed that 37.82 per cent of the N32.223 trillion debt stock is external while the balance of 62.18 is domestic.

Compared to the total public debt stock of N31.009 trillion in the second quarter, which was released on June 30, 2020, the debt stock in the third quarter 2020 increased by N1.214 trillion or 3.91 per cent.


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