DEBT MANAGEMENT OFFICE RELEASES NIGERIA’S LATEST FINANCIAL LIABILITIES FIGURES

As at June 30, Nigeria owes twenty five point seven trillion naira in debt both domestically and externally, which represents an increase of one point three-two trillion naira, from what was recorded as at December 31, 2018.

The current total debt stock, according to the Debt Management Office, is comprised both the Federal Government debt within the period under review.

While the Federal Government owed twenty point four-two trillion naira, the states and FCT owed five point two-seven trillion naira.

Of the Federal Government debt, seven point zero one trillion naira was categorised as external debt by the Debt Office, even as thirteen point four-one-two trillion naira was categorised as domestic debt.

Meanwhile for debt service in the second quarter of 2019, the Debt Office said that the nation had spent seventy six point nine-five-one billion naira.