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Nigeria’s debt rises to N25.7 trillion

Amadin Ogbewe

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It has been revealed that Nigeria’s public debt has risen to N25.7 trillion after a drastic increase since last year.

The debt went up by N3.32 trillion in one year as at the end of June 2019, the Debt Management Office revealed.

N5.28 trillion is the amount owed by the 36 states and the Federal Capital Territory while the Federal government accrued N20.42 trillion as at June 30th, 2019. 

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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Ogbewe Amadin is a senior reporter at Dockaysworld. He’s been published in Fireside fiction and others. He’s a lover of fantasy, sci-fi, sitcoms and sarcasm.

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