Nigeria’s Local, Foreign Debt Rises From N21.7tn To N24.3tn

Channels Television  
Updated April 5, 2019
A file photo of Mrs Patience Oniha


Nigeria’s total debt profile now stands at N24.3 trillion as of December 2018, the Debt Management Office has said.

The Director-General of the DMO, Mrs Patience Oniha, disclosed this at a press conference in Abuja on Thursday.

She explained that the figure rose by 24 .3 per cent from N21.7 trillion in 2017.

“The debt stock did increase by 12.25 per cent in naira terms. As of December 31 2017, it was at N21.725 trillion; by December 31 2018, it was N24.387 trillion,” the DMO boss said

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She added, “The figure here is total public debt. So, it includes the FG, 36 state governments, and FCT, and it includes both foreign and domestic.”

Oniha said the Federal Government’s domestic debt stock include N331.12 billion promissory notes issued to oil marketing companies and state governments in December 2018.