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Just In: Nigeria In N24trillion Debt – DMO

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The Debt Management Office (DMO) has revealed that the Public Debt Data comprising the domestic and external debts of the Federal Government, States government and FCT stands at ₦24.947 Trillion.

Africa News24 reports that the data was released in a statement on Wednesday.

The statement reads: “At ₦24.947 Trillion (US$ 81.274 Billion) as at March 31, 2019, the Total Public Debt grew marginally by 2.30% when compared to the figure of ₦24.387 Trillion (US$ 79.437 Billion) as at December 31, 2018.

“The increase of ₦560.009 Billion in the Total Public Debt in Q1 2019, was accounted for largely by Domestic Debt which grew by ₦458.363 Billion.

“Increases were recorded in the Domestic Debt Stock of the FGN, States and the FCT. External Debt also increased by ₦101.646 Billion during the same period.

“In relation to the Debt Management Strategy, the Ratio of Domestic to External Debt stood at 68.49% to 31.51% at the end of March 2019.

“The Total Public Debt to GDP Ratio was 19.03% which is within the 25% Debt Limit imposed by the Government.”

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