DMO: Nigeria’s Debt Profile Rise to N24.947trn

 

Ms Patience Oniha, D-G,  DMO

 

 

The Debt Management Office (DMO) has released it Public Debt Data which shows Domestic and External Debt profile of the Federal Government of Nigeria (FGN), the 36 States of the Federation and the Federal Capital Territory (FCT), at a total N24.947 trillion (US$ 81.274 Billion) as at March 31, 2019.

It shows that the Total Public Debt grew marginally by 2.30 per cent when compared to the figure of N24.387 Trillion (US$ 79.437 Billion) as at December 31, 2018.

According to the office, the increase of N560.009 Billion in the Total Public Debt in Q1 2019, was accounted for largely by Domestic Debt ,which grew by N458.363 Billion.

“Increases 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.

In relation to the Debt Management Strategy, the Ratio of Domestic to External Debt stood at 68.49 per cent to 31.51 per cent at the end of March 2019. The Total Public Debt to GDP Ratio was 19.03 per cent, which is within the 25 per cent Debt Limit imposed by the Government,” it said.