NigeriNigeria’s total public debt reaches N33.107trn – DMOa’s total public debt reaches N33.107trn – DMO

The Debt Management Office (DMO) says Nigeria’s Public Debt Stock is N33.107 trillion (about 87.239 billion dollars), as at March 31, 2021.

A statement obtained from DMO’s website says that the total public Debt Stock comprised of the debt stock of the Federal Government of Nigeria (FGN), 36 State Governments and the Federal Capital Territory (FCT), respectively.

The debt stock also includes Promissory Notes in the sum of N940.220 billion issued to settle the inherited arrears of the FGN to state governments, oil marketing companies, exporters and local contractors.

The report said that compared to the Total Public Debt Stock of N32.916 trillion as at December 31, 2020, a marginal increase of 0.58 per cent was recorded in the Debt Stock.

Further analysis shows that the increase was in the Domestic Debt Stock which grew by 2.11 per cent from N20.21 trillion in December 2020 to N20.637 trillion as at March 31, 2021.

ALSO READ:  MAINTAIN THE 100% HOME RECORD - HON.LAWAL ADVISES OSUN UNITED

According to the DMO, the FGN’s share of the domestic debt includes FGN bonds, Sukuk and Green Bonds used to finance infrastructure and other capital projects as well as the N940.220 billion Promissory Notes.

“External Debt Stock declined from USD33.348 billion as at December 31, 2020, to USD32.86 billion due to the redemption by Nigeria of the 500 million dollars Eurobond in January 2021.”

Check Also

EMERGENCE OF OSUN FIRST LADY AS SGWF’s CHAIRPERSON SHOW OF DIGNITY TO OYETOLA, STATE

…says Aragbiji. The eminent Aragbiji of Iragbiji Oba Abdur-Rasheed Ayotunde Olabomi Odundun IV has congratulated …

OJUMU LAUDED GOVERNOR GBOYEGA OYETOLA AS STATE OF OSUN HOSTED “2021 WORLD ENVIRONMENT DAY” IN THE STATE CAPITAL, OSOGBO

Dr. Desmond Oludare Ojumu, a chieftain of All Progressives Congress (APC), from Oriade Local Government …

CDS meets military chiefs, prepares 70 generals for exit

The Chief of Defence Staff, General Lucky Irabor, on Thursday met with major-generals, Air vice …

Leave a Comment