Nigeria’s debt rises by N2.3trn, hits N31trn – DMO

By AdvocateNews on 09/09/2020

Share on facebook Yahoo mail icon Gmail icon

Views: 1,216

Ms Patience Oniha, DG Debt Management Office(DMO)
Ms Patience Oniha, DG Debt Management Office(DMO)

The Debt Management Office on Wednesday released Nigeria’s total public debt stock as of June 30, 2020, and put the country’s entire debt at N31trn, indicating an increase of N2.38trn within a space of three months.

Nigeria’s total public debt stock includes the debt stock of the Federal Government, the 36 states, and the Federal Capital Territory.

Just as the country’s public debt stock, the DMO also released reports on Nigeria’s Actual External Debt Service Payments in Second Quarter, 2020, as well as Nigeria’s External Debt Stock as of June 30, 2020.

For the country’s public debt stock as of June 30, 2020, the DMO said, “The data shows that in naira terms, the total public debt stock which comprises the debt stock of the Federal Government, the 36 state governments and the FCT stood at N31.009trn or $85.897bn.

“The corresponding figures for March 31, 2020, were N28.628trn or $79.303bn.”

The debt office explained that the increase in the debt stock by N2.381trn or $6.593bn was accounted for by the $3.36bn budget support loan from the International Monetary Fund, new domestic borrowing to finance the revised 2020 Appropriation Act.

It said this includes the issuance of the N162.557bn Sukuk, and promissory notes issued to settle claims of exporters.

This, it said, and new borrowings by state governments, were also expected to increase the public debt stock.

Posted 09/09/2020 8:14:59 PM

 

Share on facebook Yahoo mail icon Gmail icon


 

You may also like...
As PDP Decides: “A Candidate Who Will Restructure...

Serving Army Major accused of sponsoring Oruku, Umuode...

We’re not aware of currency printing – Finance...

UAE orders Nigerians with expired visas to leave...

N53m Fraud: Popular Lagos hotelier, wife bag 40...

Hundreds of Canadian doctors demand lower salaries

SEEDS OF DESTINY 1 JULY 2021— THE COVENANT...

SEEDS OF DESTINY 11 AUGUST 2021 – THE...

Dino Melaye promises to honour police Invitation

Police detains man in Ilorin for allegedly slapping...

IBB was not individually responsible for Vatsa’s fate...

‘I foresee Taliban taking over some Nigerian states’...

 

Latest News Biafra: Business in Southeast crumbling, IPOB must end sit-at-home now – Ohanaeze Political opponents abducted Anambra Labour Party’s Gov candidate, party alleges Aviation stakeholders hail Gov. Ugwuanyi’s commitment to air safety Afenifere to Buhari: Ignore Gumi, declare bandits as terrorists UN issues ‘Urgent Appeals’ to Nigeria, Kenya, seeking explanation for Nnamdi Kanu’s illegal abduction, detention, others 22 governors apply as FG disburses model ranch funds next week Benue: Ortom assents to law to empower volunteer guards bear weapons Former Enugu SSG, Dan Agbo, is dead Zamfara: Residents flee as bandits attack ten communities in one week Accounts blocked for Cryptocurrency trading unfrozen by Court Anyim regains freedom after spending two nights in EFCC custody Withdraw military from South-East, Asari Dokubo's Biafra de facto government tells FG

 

Most Read Sickle cell support group seeks government intervention (193,975 views) Ebonyi bans embalming of corpses in homes (193,975 views) Ex-Heads of State will protect Jonathan from persecution —Kukah (193,975 views) I’ve no Coronavirus, govt wants to kill me – Anambra Index case (193,974 views) Fleeing ex-DG Imo Broadcasting Corporation who stabbed wife to death arrested (193,974 views) FG sends new directive to banks, schools as Buhari extends lockdown by four weeks (193,974 views) Ugwuanyi commends FG’s siting of ICT University in Enugu (193,973 views) Full Text of Governor Ifeanyi Ugwuanyi’s 2016 Budget Speech (193,861 views) HUSHPUPPI: CRIMINALS HAVE NO TRIBE. THEY SHAME ALL OF US... (189,300 views) ASUU strike: Senate intervention ends in deadlock (188,607 views) All you need to know about Peter Obi, PDP VP Candidate (150,193 views) DEMOCRACY DAY: President Muhammadu Buhari’s full speech (148,509 views)

 

 

SECTIONS FAITH (158) EDITORIAL (18) NEWS (7,021) POLITICS (495) SOCIETY (132) SPORTS (53) BUSINESS (367) HEALTH (58) EDUCATION (50) INTERNATIONAL (178) ENTERTAINMENT (51) TECHNOLOGY (6) COLUMNISTS (57) LETTERS (4) OPINION (40)

 

 


There are no video entries posted yet.