The Debt Management Office has disclosed that Nigeria’s public debt was N38.005tn as of the end of the third quarter of 2021.
In a press statement published on the DMO’s website, the debt agency said the total debt figure comprised total external and domestic debts of the Federal Government, the 36 states, and the Federal Capital Territory.
The statement revealed that the total debt stock rose by N2.540tn in three months from June 30 to September 30, 2021.
The statement further said the increase of N2.540tn when compared to the corresponding figure of N35.465tn at the end of Q2 2021 was largely accounted for by the $4bn Eurobonds issued by the Government in September 2021.”
Reports show that the Federal Government of Nigeria has come under heavy criticism for engaging in a borrowing spree under the present administration.
