THUR, DEC 21 2023-theGBJournal|The total public debt stock of Nigeria stood at N87.91 trillion or US$114.35 billion, as at September 30, 2023, the Debt Management Office (DMO) said on Wednesday.
The amount represents the domestic and external debts of the Federal Government, the 36 State Government and the Federal Capital Territory (FCT).
The DMO notes that, at N87.91 trillion, it represents a marginal increase of 0.61% when compared to the June 30, 2023 figure of N87.38 trillion.
”This trend is explained by the decrease in external debt from US$43.16 billion as at June 30, 2023 to US$41.59 billion as at September 30, 2023 and a relatively moderate increase of N1.80 trillion in domestic debt.
External debts, the DMO said, fell due to a redemption of US$500 million Eurobond and the payment of US$413,859 million as first principal repayment of US$3.4 billion loan obtained from the International Monetary Fund (IMF) in 2022 during COVID-19.
”The servicing of these debts in addition to other debts, are clear demonstration of the Federal Government’s commitment to honouring its debt obligation,” the DMO said.
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