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Nigeria’s debt increases to N12.12tn

27 July 2015, 16:39

Abuja - The Debt Management Office has said Nigeria’s total debt stock now stands at N12.12tn ($63.81bn), Punch reports.

Statistics obtained from the organisation on Sunday showed that the domestic debt stock of the Federal Government as of June 30 stood at N8.39tn or $42.63bn.

The domestic debts of the 36 states of the federation and the Federal Capital Territory Administration, on the other hand, stood at N1.69tn ($10.86bn) at the end of June.

Also read: Nigeria’s debt increases to N12trillion

On the external sector, the country’s debt stock was put at $10.32bn (N2.03tn) at the end of June.

The DMO gave a hint that the actual domestic debt of the states could be higher because the figure only reflected the position of the indebtedness of the states as of December 31, 2013.

It added that the compilation of the 2014 debt stock for the states and the FCT was in progress.

Read more at Punch

- News 24

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