Business

Nigeria’s debt increases by N1.23trillion within 3months to N28.63trillion

President Muhammadu Buhari

The Public Debt Portfolio report released on Thursday by the Debt Management Office shows that Nigeria’s debt has risen to N28.63trillion.

The DMO explained that the nation’s total debt rose from N27.4trillion in December 2019 to N28.63trillion in March 2020.

The debt portfolio rose by N1.23trillion within three months.

The DMO also revealed that the external debt obligations of the country as at the end of March 2020 is N9.99trillion. The figure stood at N9.02trillion as of December 2019.

The domestic debt was N18.64trillion representing 65.11% of the nation’s total debt.

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