
Nigeria’s Debt Hits N36 Trillion
According to the Debt Management Office (DMO), Nigeria’s public debt which comprises of domestic and external obligations of the Federal Government and the 36 states in the country including the Federal Capital Territory (FCT) has increased to N35.465 as of June 30, 2021.
This information was disclosed in a public debt presentation yesterday by the Director-General of the Debt Management Office, Ms. Patience Oniha. Information Guide Nigeria
Ms. Patience Oniha disclosed that the debt rose from N33.107 trillion or $87.239 billion in March and rose to N35.465 trillion in June indicating a N2.358 trillion rise from the first quarter of the year to the end of the second quarter.
Read Other Top News:
- Buhari overlooks N33tr debt burden, seeks fresh N2tr loans
- Prices of Food Increases, Nigeria’s Inflation Drops For Fifth Straight Month-NBS
- Naira Slumps, Hits New Low at Black Market
- PDP Calls on National Assembly to Investigate Loans Collected by President
As reported by The Sun, the Federal Government has accounted for N11. 828 trillion of the external debt and N17. 632 trillion of the domestic debt, while States and FCT external debt stood at N1.883 trillion, with domestic debt stock at N4. 122 trillion. Jamb Results
The Sun also revealed that external debt showed Nigeria owes in bulk to multilateral including World Bank Group and the African Development Bank Group which accounted for 54.88 percent.
The DMO boss said that despite the depreciation in Naira, plans, and actions have been initiated towards managing that risk.
Check and Confirm: How much is Dollar to Naira Today
This post can be helpful to somebody else, please share it on Facebook, Whatsapp, Telegram and Twitter. There are buttons below for this (easy to use too)!
Copyright Warning!
Contents on this website may not be republished, reproduced, redistributed either in whole or in part without due permission or acknowledgment..
Proper acknowledgment includes, but not limited to (a) LINK BACK TO THE ARTICLE in the case of re-publication on online media, (b) Proper referencing in the case of usage in research, magazine, brochure, or academic purposes,.
.
All contents are protected by the Digital Millennium Copyright Act 1996 (DMCA).
.
We publish all contents with good intentions. If you own this content & believe your copyright was violated or infringed, please contact us at [infoguidenigeria@gmail.com] to file a complaint and we will take necessary actions immediately.