Nigeria’s debt hits N25.7trn, up by N3.3trn

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President Muhammadu Buhari of Nigeria
Nigeria public debt stands at N25.7trn up by N3.32trn in one year as at the end of June 2019, the Debt Management Office said on Tuesday.

While the Federal Government owed N20.42trn as at June 30, 2019, the 36 states and the Federal Capital Territory debt portfolio stood at N5.28trn.

The DMO revealed the debt stock is made up of N8.32trn ($27.16bn) external debt and N17.38trn borrowed domestically.

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The breakdown by the DMO reflected the debt of the State governments and FCT.

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