Nigeria’s public debt increased by N2.5trn in three months – Debt Management Office

The Debt Management Office (DMO) has said that the country’s total debt was N38.005 trillion at the end of the third quarter (Q3) of 2021.

The debt agency in a press statement titled, ‘DMO publishes total public debt for Q3 2021’, and published on the DMO’s website, said the total debt figure comprised total external and domestic debts of the Federal Government , the 36 states and the Federal Capital Territory.

The total debt stock rose by N2.540tn in three months from June 30 to September 30, 2021. The DMO attributed the increase to the $4 billion eurobonds issued by the federal government in September.

According to the agency, the $4 billion eurobonds helped to increase the level of the country’s external reserves.

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