P
ProfRem
Guest
Data made available by the Debt Management Office (DMO) yesterday showed that Nigeria’s debt stock has hit N20 trillion—as at September 30.
Domestic debt accounts for 76.96 per cent of this figure while foreign debt accounts for 23.04 per cent.
In figures, domestic debt stood at N15.679 billion, an increase of 4.1 per cent from the N15.034 trillion recorded in June.
Foreign debt stood at N4.694 trillion, a rise of 1.9 per cent above the N4.602 trillion as at June 30.
According to the DMO, the figures show that the federal government was more inclined to domestic debt, which is partly responsible for the high debt service figures.
This year, the Federal Government issued various debt instruments like the N100 billion Sukuk for road construction, monthly FGN Savings bond and the Eurobond.
The Federal Government has already expressed intentions in raising $5.5 billion externally.
Domestic debt accounts for 76.96 per cent of this figure while foreign debt accounts for 23.04 per cent.
In figures, domestic debt stood at N15.679 billion, an increase of 4.1 per cent from the N15.034 trillion recorded in June.
Foreign debt stood at N4.694 trillion, a rise of 1.9 per cent above the N4.602 trillion as at June 30.
According to the DMO, the figures show that the federal government was more inclined to domestic debt, which is partly responsible for the high debt service figures.
This year, the Federal Government issued various debt instruments like the N100 billion Sukuk for road construction, monthly FGN Savings bond and the Eurobond.
The Federal Government has already expressed intentions in raising $5.5 billion externally.
