News
Nigeria’s public debt grows to N144.67trn—DMO
Nigeria’s public debt has risen to N144.67 trillion as of December 2024.
The Debt Management Office (DMO) disclosed this in its latest report on the country’s public debt profile. It said the debt stock increased by 48.58 per cent from N97.34 trillion in December 2023 to N144.67 in December 2024.. It attributed the steady rise of the debt to external and domestic borrowing.
The DMO also reported that the external debt rose to N70.29 trillion in December 2024 from N38.22 trillion in the same period in 2023. According to the breakdown of external debt, the federal government accounted for N62.92 trillion ($40.98 billion) of the debt, while states and the FCT held N7.37 trillion ($4.80 billion).
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