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Economy

NIGERIA’S PUBLIC DEBT RISES TO ₦45.25 TRN – DMO

Nigeria’s debts have risen by about ₦4 trillion in the past five months to ₦45.25 trillion.

This is according to documents from the monthly issuance reports by the Debt Management Office (DMO) and the Central Bank of Nigeria, (CBN).

The document stated that the Federal Government accounted for more than 88 percent of the debt stock.

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It also revealed that the Government raised about ₦3.34 trillion through its regular issuance of domestic debt instruments between April and August, 2022.

The domestic debts rose from ₦24.987 trillion in the first quarter to ₦28.322 trillion by August.

The debt stock, which stood at ₦32.92 trillion by December 2020, rose to ₦39.556 trillion by December 2021 and N41.6 trillion by the end of the first quarter of 2022.

 

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