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Nigeria’s total debt stock shoots up to N44.6 trn Q3, 2022

*DMO cites borrowings FG, to part -finance 2022 budget deficit, new borrowings by sub-nationals

Nigeria’s total debt stock, which comprises of external debt and domestic debts of the Federal Government, the 36 states and Federal Capital Territory (FCT), increased to N44.6 trillion in the third quarter of this year (Q3 in 2022).
Debt Management Office (DMO), which confirmed latest debt figure on Friday on its website, said the figure represents a 2.9 per cent quarter-on-quarter decline when compared to N42.84 trillion recorded Q2, June 2022.
The debt agency attributed the increase in public debt to new borrowings by the Federal Government to part-finance the deficit in the 2022 Appropriation Act, as well as new borrowings by sub-nationals.
According to DMO, the total public debt stock comprises domestic debt of N26.92 trillion and external debt of N17.5 trillion.

 

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