Nigeria’s Debt Management Office reported on Tuesday 15 October that the country’s public debt now stands at N25.7 trn.
It was also learned that the public debt increased by N3.32 trn in one year as at the end of June 2019.
The public debt of the nation, which stood at N22.38trn as of June 2018, increased to N24.39trn in December 2018 and N24.95trn in March 2019.
As at June 30, 2019, the federal government owed N20.42trn, while the 36 states and the Federal Capital Territory debt portfolio owed N5.28trn. The debt stock consists of N8.32 trn ($27.16 billion) of external debt and N17.38 trn of domestic debt.