Take a fresh look at your lifestyle.

Breaking: Nigeria’s Total Debt Stock Rises To N24.9tr —DMO


Nigeria’s total debt has increased by 2.3% to N24.947 Trillion (US$ 81.274 Billion) as of March 31, 2019.

The Debt Management Office (DMO) released the figure Wednesday morning noting “the Total Public Debt grew marginally by 2.30% when compared to the figure of N24.387 Trillion (US$ 79.437 Billion) as at December 31, 2018.”

The increase of N560.009 Billion in the Total Public Debt in Q1 2019, the DMO said: “was accounted for largely by Domestic Debt which grew by N458.363 Billion.”

Increases, the DMO added were recorded “in the Domestic Debt Stock of the FGN, States and the FCT.”

External Debt also increased by N101.646 Billion during the same period.

The nation’s debt manager also stated that “in relation to the Debt Management Strategy, the Ratio of Domestic to External Debt stood at 68.49% to 31.51% at the end of March 2019.”

The DMO assured that the Total Public Debt to GDP Ratio stood at 19.03% is within the 25% Debt Limit imposed by the Government.

© Copyright 2020 ElombahNews.

DISCLAIMER : Opinion articles are solely the responsibility of the author and does not necessarily reflect the views of the publishers of ElombahNews!
Would you like to be receiving ALL ElombahNews links ‘On The Go’ on WhatsApp Or Telegram? If yes, join us here on WhatsApp or Telegram, or provide us your Telephone number via publisher@elombah.com or sms/inbox +2349050382526 and you are good to go!
DOWNLOAD ElombahNews mobile app here
Send eyewitness accounts/ reports/ articles  to publisher@elombah.com; follow us on twitter @ElombahNews; like our Facebook page ElombahNews 

For adverts & inquiries, call +447460770987, +2349050382526

Comments are closed.