Sunday, October 17, 2021

Nigeria’s Total Public Debt Stock Rises in three months

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The Nigeria’s total public debt stock has increased from N33.11tn as of March 31, 2021 to N35.47tn as of June 30, 2021, showing an increase of N2.36tn, about 7.13% increase within three months

The Director General of the Debt Management Office, Patience Oniha, explained a breakdown of the public debt stock for the second quarter of year 2021 at a virtual media presentation .

The total external debt stock which was N12.47tn as of March 31 moved to N13.71tn as of June 30, an indication of an increase of N1.24tn representing 9.94%

The total domestic debt stock also rose from N20.64tn on March 31st to N21.75tn in June 30th, indicating an increase of N1.11tn or 5.38%.

At the end of Q2 2021, external debt stock made up 38.66 %, while domestic debt stock made up 61.34 %of the total public debt stock.

The debt to Gross Domestic Product ratio rose from 21.13 %to 21.92 % within the second quarter.