The Nigerian government has spent N3.63 trillion on servicing its external and domestic debts in 2022.

This was contained in a data obtained from the Debt Management Office (DMO) on Thursday.

According to RIPPLES NIGERIA, data shows that external debt service, which cost Nigeria $2.40 billion, amounted to N1.07 trillion using the exchange rate of N448.08, which Nigeria used to pay off the debt.

The total domestic debt service for the year stood at N2.56 trillion, with the monthly breakdown revealing that the highest debt servicing expenditure was in April, where N529.88 billion was spent.Information Guide Nigeria

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The breakdown of the domestic debt service for the year is as follows: January – N188.36 billion, February – N103.88 billion, March – N376.44 billion, April – N529.88 billion, May – N66.97 billion, June – N67.88 billion, July – N248.72 billion, August – N152.44 billion, September – N419.42 billion, October – N302.42 billion, November – N57.24 billion, December – N47.11 billion, RIPPLES NIGERIA reports.NYSC Portal

DMO had reported that Nigeria’s total debt stock as at December 2022 stood at N46.25 trillion.JAMB Result

The entire external debt stock was N18.70 trillion (USD 41.69 billion) while the total domestic debt stock stands at N27.55 trillion (61.42 billion USD).

Check JAMB Result