Nigeria’s Debt Management Office (DMO) said the total public debt stock of the country as at March was N49.95 trillion (108.30 billion dollars).
This is contained in a statement on the DMO official website on Sunday,
According to the DMO, the total debt stock comprises the external and domestic debts of the federal government, the 36 states and the Federal Capital Territory (FCT).
It said the country’s total debt for the preceding period 0f Dec. 21, 2022 was N46.25 trillion (103 billion dollars), indicating an increase of about three trillion naira.
However, the total debt stock, excludes the federal government’s N22.719 trillion Ways and Means Advances of the Central Bank of Nigeria (CBN), whose securitisation was approved by the National Assembly in May.
The DMO revealed that the Ways and Means will be included in the debt stock of the federal government from June.
Meanwhile,, the DMO has commended recent policies of the government such as, the removal of subsidies and appointment of a Special Adviser to the President on Revenue which are positive steps for public debt sustainability, the Director General, Patience Oniha said in a recent Debt Sustainability Analysis ( DSA) report
