P
ProfRem
Guest
The Debt Management Office on Monday released the debt profile of the country as at March 31st 2017.
This is N1.8tn increase from the N17.36tn recorded at the end of December 2016.
As of March 31, 2015, the country’s total debt stood at N12.06tn. This means the debt level increased by N7.1tn in two years.
Every segment of the country’s debt profile has recorded significant increases over a 2-year period, with increases ranging from 40% and 75%. The resultant effect is that the overall debt profile of the country has increased from the N17.36 trillion recorded at the end of December 2016 to N19.16 trillion.
Detailed of the figures show that the country’s external debt for the federal and state governments) rose from $9.46 billion to $13.81 billion, representing a 46% increase while the domestic debt component rose by 40.71% to hit N8.51 trillion.
States, in spite of the Paris Club funds released to them as well as other bailout funds, were responsible for the highest proportional increase in debt accumulated over this period as the domestic component of their debts rose 75.2% to N2.96 trillion.
This is N1.8tn increase from the N17.36tn recorded at the end of December 2016.
As of March 31, 2015, the country’s total debt stood at N12.06tn. This means the debt level increased by N7.1tn in two years.
Every segment of the country’s debt profile has recorded significant increases over a 2-year period, with increases ranging from 40% and 75%. The resultant effect is that the overall debt profile of the country has increased from the N17.36 trillion recorded at the end of December 2016 to N19.16 trillion.
Detailed of the figures show that the country’s external debt for the federal and state governments) rose from $9.46 billion to $13.81 billion, representing a 46% increase while the domestic debt component rose by 40.71% to hit N8.51 trillion.
States, in spite of the Paris Club funds released to them as well as other bailout funds, were responsible for the highest proportional increase in debt accumulated over this period as the domestic component of their debts rose 75.2% to N2.96 trillion.
