Nigeria total debt stock has increased by N9.43 Trillion in the space of four months, standing at N97.341 Trillion as of December 31st from N87.911 trillion in September of the same year.
This is according to a recent quarterly data from Debt Management Office (DMO).
The report titled ‘Total Public Debt for Quarter 4, 2023’.
DMO ascribed this substantial increase to the recent borrowing by the federal government to support the deficit in the 2024 budget.
According the DMO report, the total debt domestic accounts for 61% of the Total Public Debt Stock while external debt at N38.22 Trillion with accounted balance of 39% following the strategy of debt management.
