The Debt Management Office, DMO, said that Nigeria's total public debt has increased by 24.99 per cent to N121.67 trillion as of March 31, 2024. DMO disclosed this in a statement on Thursday. The figure is a significant increase compared to the N97.34 trillion recorded on December 31, 2023. According to DMO, the new debt figure encompasses the combined domestic and external debts of the Federal Government of Nigeria, FGN, the 36 state governments, and the Federal Capital Territory, FCT.
“Nigeria’s Total Public Debt, comprising the Total Domestic and External Debts of the Federal Government of Nigeria , the thirty-six state governments, and the Federal Capital Territory , stood at N121.67 trillion as at March 31, 2024. The comparative figure for December 31, 2023, was N97.34 trillion . Total Domestic Debt was N65.65 trillion while Total External Debt was N56.02 trillion .