EXCLUSIVE: Northern senators move against Akpabio over alleged N4trn budget paddingClimate change, extreme weather, conflict exacerbate global food crisisWith Soludo, being Yoruba and Anambran is possible, By Majeed DahiruEXCLUSIVE: Northern senators move against Akpabio over alleged N4trn budget paddingClimate change, extreme weather, conflict exacerbate global food crisisWith Soludo, being Yoruba and Anambran is possible, By Majeed...
The DMO said that the amount comprised domestic and external debt stocks of the federal government, the 36 state governments and the Federal Capital Territory . It said that the increase was largely due to new domestic borrowing by the federal government to part-finance the deficit in the 2024 budget, and disbursements by multilateral and bilateral lenders.
It said that loans from multilateral sources constituted 49.77 per cent of the country’s external debt stock, while loans from bilateral sources constituted 16.02 per cent.“Whilst the DMO continues to employ best practice in public debt management, the recent and ongoing efforts of the authorities to shore up revenue will support debt sustainability,” it said.
Source: Loan Digest (loandigest.net)