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JUST-IN: Total Public Debt Hits N35.46trn As At June 2021 – DMO

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JUST-IN: Total Public Debt Hits N35.46trn As At June 2021 – DMO
JUST-IN: Total Public Debt Hits N35.46trn As At June 2021 – DMO

Nigeria’s total public debt (federal and state governments) rose to N35.46 trillion as at June this year, according to the Debt Management Office (DMO).

Director-general of the Debt Management Office (DMO), Ms Patience Oniha, made the disclosure during a presentation of the nation’s debt in Abuja on Wednesday.

DMO Debunks Report On Nigeria As High-debt Risk Nation

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Loan from China is 27% of the total external debt, with bilateral and multilateral segment of the external debt accounting for the higher percentage of the foreign debt stock.

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On the issue of the rising public debt, Oniha said borrowings are project-tied. “We have build up Nigeria reserves with the issuance of our Eurobonds,” she stated.

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