Nigeria’s total public debt portfolio now stands at approximately N48.93 trillion, with the government borrowing approximately N3.73 trillion in the last five months.
According to data obtained by The Nation’s Economic Intelligence yesterday, the government will raise approximately N1.599 trillion in the fourth quarter of 2022.
The Debt Management Office (DMO), which is in charge of overseeing the issuance and management of Nigeria’s sovereign debts, previously confirmed The Nation’s exclusive report that the government had raised N2.129 trillion in the first two months of 2023.
According to a breakdown, Nigeria’s domestic debts have risen to approximately N30.643 trillion, owing primarily to new borrowings of approximately N1.599 trillion in the fourth quarter of 2022 and N2.129 trillion between January and February 2023.
Nigeria’s external debt increased to N18.282 trillion, owing primarily to the naira’s depreciation against the US dollar.
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