According to figures provided by the Debt Management Office (DMO) on Tuesday, Nigeria’s total public debt increased 5.97% to N8.02 trillion as of 30 September 2024 from N134.3 trillion in June.
External obligations of N68.89 trillion and domestic borrowings totaling N73.4 trillion make up the debt.
The total debt increased slightly by 0.29% in terms of dollars, from $42.90 billion in June to $43.03 billion at the end of September. But over the same time period, the value of external debt in naira increased by 9.22%, from N63.07 trillion to N68.89 trillion.
While the domestic debt’s USD equivalent decreased by 5.34%, from $48.45 billion to $45.87 billion, it increased by 3.10% in naira terms, from N71.22 trillion to N73.43 trillion.
Most of the domestic debt, which increased from N66.96 trillion in June to N69.22 trillion in September, was owed by the federal government. States’ and the Federal Capital Territory’s (FCT) debt, on the other hand, decreased somewhat, from N4.27 trillion to N4.21 trillion.
–Deeprows News
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