Why Nigeria’s total debt rose by N24 trillion

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The DMO official said that the debt report was somewhat an improvement from the past, before President Bola Tinubu's government.

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She said that the securitisation of N4.90 trillion as part of the securitisation of the N7.3 trillion Ways and Means Advances approved by the National Assembly was also partly responsible for the N24.33 trillion increase in the debt stock. “The total public debt as at March 31, showed that the total public debt in Naira terms stood at N121.67 trillion compared to N97.34 trillion as at December 31, 2023.PREMIUM TIMES delivers fact-based journalism for Nigerians, by Nigerians — and our community of supporters, the readers who donate, make our work possible. Help us bring you and millions of others in-depth, meticulously researched news and information.

“The Naira values were significantly different at N38.22 trillion and N56.02 trillion respectively, representing a difference of N17.8 trillion. She said that the debt report was somewhat an improvement from the past, before President Bola Tinubu’s government.She urged the Federal Government to prioritise fiscal retrenchment while assuring that the various measures to attract foreign exchange inflows would increase external reserves and support the Naira exchange rate.

 

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Nigeria’s Public Debt Hits N121.67tn, Up by N24.33tn in Three MonthsA Trusted Nigerian Newspaper
Source: NigeriaNewsdesk - 🏆 10. / 63 Read more »