Breaking News
Translate

Breaking: Nigeria owed N25.7trn debt as at June 30 — DMO

The Debt Management Office (DMO), says as at June 30, Nigeria owes N25.7 trillion in debt both domestically and externally.

Organisation urges youths to think toward contributing to nation building
Nigerian Flag

The DMO said this in its ‘Total Public Debt Portfolio’ obtained from its website on Wednesday in Abuja.

I never took any foreign loan – Ambode(Opens in a new browser tab)

The News Agency of Nigeria (NAN) reports that as at Dec. 31, 2018, Nigeria’s total debt stock stood at N24.38 trillion.

The present figure shows an increase in debt stock of N1.32 trillion.

The DMO said that the current total debt stock comprised both the Federal Government debt, that of the 36 states and the Federal Capital Territory (FCT).

For the Federal Government, the DMO said it owed N20.42 trillion, while the states and FCT owed N5.27 trillion.

Of the Federal Government debt, N7.01 trillion was categorised as external debt, while N13.412 trillion was categorised as domestic debt.

Ndume faults N100bn budgetary allocation to defence(Opens in a new browser tab)

For the states and the FCT, N1.309 trillion was owed externally, while N3.966 trillion was owed domestically, the DMO said.

Giving details of the Federal Government’s domestic debt stock by instrument, the DMO said Bonds accounted for N9.691 trillion and Treasury Bills N2.651 trillion.

Others are Treasury Bonds N125.9 billion, Savings Bond N10.431 billion, Sukuk N200 billion, Green Bond N25.69 billion and Promissory Notes N707.7 billion.

Meanwhile for debt service in the second quarter of 2019, the DMO said that the nation had spent N76.951 billion. (NAN)

Vanguard

All rights reserved. This material and any other digital content on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from VANGUARD NEWS.

Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.