The Debt Management Office of Nigeria has disclosed that Nigeria’s public debt rose to ₦97.34trn as of the fourth quarter of 2023.This increase in debt levels was basically attributed to new domestic borrowing initiatives undertaken by the Federal Government.
The statement partly read, “Nigeria’s Public Debt Stock as of December 31, 2023 was ₦97.34 trillion or $108.229 billion. This amount comprises the domestic and external debt stocks of the Federal Government of Nigeria , the thirty-six state governments, and the Federal Capital Territory .“There was an increase of ₦9.
“At ₦59.12 trillion, total domestic debt accounted for 61 percent of the total public debt stock, while external debt at ₦38.22 trillion accounted for the balance of 39 percent.
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