Nigeria’s debt profile hits N32.2trn

The Debt Management Office (DMO) said on Thursday Nigeria’s public debt hit a total of N32.2trillion ($84.57billion) at the end of September.

The DMO, which disclosed this on its website, revealed that the Federal Government’s total debt stood at N28trillion while the states and Federal Capital Territory (FCT) debt was estimated at N4.19 trillion during the same period.

READ ALSO: Nigeria’s debts to hit N38trn in 2021 —Finance Minister

The implication is that Nigeria’s debt profile increased by N1.19trillion between the second and third quarter of this year.

According to the agency, the breakdown of Nigeria’s public debt showed that the country’s domestic debt is N20trillion or 62.18 percent of the total debt while foreign debt is 37.82 percent.

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