BREAKING: Nigeria’s Public debt stands at N32.9 trn — DMO

By Uchechi Ojo March 16, 2021357 views

Nigeria’s Total Public Debt as of December 31, 2020, stood at N32.915 Trillion. The figures include the Debt Stock of the Federal and State Governments, as well as, the Federal Capital Territory.

The Debt Management Office (DMO) released the data, this afternoon.

It said that “after Nigeria exited recession in 2017, the level of New Borrowing at the Federal Level as shown in the Annual Appropriation Acts, had been declining as part of the Government’s measures to moderate the rate of Growth in the Public Debt Stock in order to ensure debt sustainability.

“New Borrowing to part-finance Budget Deficits had declined steadily from N2.36 Trillion in 2017 to N2.01 Trillion in 2018, N1.61 Trillion in 2019 and N1.59 Trillion in the first 2020 Appropriation Act.”

Details soon…

Uchechi Ojo

Uchechi Ojo, is a Lagos-born and based writer, newscaster and voice-over artist. A versatile and committed journalist with the yearning to make a difference in the industry. She writes balanced, informative and interesting stories. Uchechi has the ability to interact and listen with rapt attention, excellent time management and great communication skills while paying attention to detail. She is very approachable and a good team player. Instagram | LinkedIn