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Nigeria’s Debt Portfolio Increases By N1.23tn In 3 Months

The Debt Management Office (DMO) on Thursday disclosed that Nigeria’s public debt portfolio has increased from N27.4tn recorded in December 2019 to N28.63tn in March 2020.

This indicates that the nation’s public debt portfolio increased by N1.23tn (4.48 percent) within three months.

DMO, in its Public Debt Portfolio report, noted that Nigeria’s total external debt obligations as of the end of March 2020 stood at N9.99tn.

The N9.99tn is about N970bn higher than N9.02trn which was recorded as external debt obligations in December 2020.

The debt office said the country’s domestic debt was N18.64tn, representing 65.11 percent of Nigeria’s debt stock.

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