in ,

Nigeria’s Public debt increases to N46.25tn

As of September 2022, Nigeria’s debt figure was N44.06tn.

Nigeria’s Public debt increases to N46.25tn


The Debt Management Office has announced that Nigeria’s total public debt stock is now N46.25tn or $103.11bn in the fourth quarter of 2022, aso Naija reports.

As of September 2022, Nigeria’s debt figure was N44.06tn.

The DMO said the new figure consists of the domestic and external total debt stocks of the Federal Government and the sub-national governments (36 state governments and the Federal Capital Territory).

The comparative figure of public debt as of December 31, 2021, was N39.56tn or $95.77bn. This means that the country’s debt increased by N6.69trn or $7.34bn within one year.

Debt management office said that the new borrowings by the FGN and sub-national governments, primarily to fund budget deficits and execute projects and the issuance of promissory notes to settle some liabilities also contributed to the growth in the debt stock.

In a debt profile breakdown, the commercial hub of the nation, Lagos, tops the states with the highest debt profile recording a total of N807.21 billion in Q4 2022, while Delta came in second with N304.25 billion and Ogun with N270.45 billion respectively.

However, Jigawa recorded the lowest debt with N43.95 billion followed by Kebbi and Katsina with N61.31 billion and N62.37 billion respectively.

What do you think?

Written by Elizabeth O.

Oyinlola Elizabeth O. Is a prolific SEO Analyst/content writer who is based vastly on different beats/niches. She is also a metaphysical poet and a chemical scientist with improved knowledge in western modernization/persuasive
essay constructions. Elizabeth O. has helped different websites to generate google ranking
and AdSense.

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

    “Davido’s new album ‘Timeless’ is going to bring Grammy home” – Reality TV star, Neo Akpofure (see reactions)

    “Y’all go listen to Timeless by my brother” – Wizkid shows support for Davido’s new album