As of September 30, Nigeria’s total public debt, encompassing the liabilities of the Federal Government, 36 state governments, and the Federal Capital Territory (FCT), has reached N87.91 trillion (approximately 114.35 billion dollars). This information, disclosed by the Debt Management Office (DMO) in Abuja on Wednesday, reveals a slight uptick of 0.61% compared to the June figure of N87.38 trillion.<\/p>\n
The DMO clarified that this marginal increase is primarily attributed to a decrease in external debt from 43.16 billion dollars as of June 30 to 41.59 billion dollars as of September 30. Concurrently, there was a relatively moderate increase of N1.80 trillion in domestic debt during the same period.<\/p>\n
The debt office provided insights into the factors contributing to the reduction in external debt, citing the redemption of a 500 million dollars Eurobond. Additionally, the payment of 413.959 million dollars as the first principal repayment of the N3.4 billion dollars loan obtained from the International Monetary Fund (IMF) in 2020, amidst the challenges of the Covid-19 pandemic, played a role in this decline.<\/p>\n
The DMO emphasized that the servicing of all debts underscores the federal government’s commitment to honoring its financial obligations. The redemption of the Eurobond and the repayment of the IMF loan are highlighted as clear demonstrations of this commitment.<\/p>\n","protected":false},"excerpt":{"rendered":"
As of September 30, Nigeria’s total public debt, encompassing the liabilities of the Federal Government, 36 state governments, and the Federal Capital Territory (FCT), has reached N87.91 trillion (approximately 114.35 billion dollars). This information, disclosed by the Debt Management Office (DMO) in Abuja on Wednesday, reveals a slight uptick of 0.61% compared to the June […]<\/p>\n","protected":false},"author":25,"featured_media":12411,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[],"class_list":["post-12404","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/12404","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=12404"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/12404\/revisions"}],"predecessor-version":[{"id":12415,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/12404\/revisions\/12415"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/12411"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=12404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=12404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=12404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}