Sunday, October 17, 2021

Nigeria’s Total Public Debt Stock Rises in three months



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.