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Nigeria Debts Stock Hits N32.9tr
The Director General of the Debt Management Office (DMO), Patience Oniha, has said the Federal and State cumulative debt has hit a sum of N32.9 trillion . According to her, “It is useful to state that the Public Debt figures published by DMO are the Debt Stock of the FGN, the 36 states and the…
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Four States Debt Surpass Net Revenue
The Fiscal Responsibility Commission has said that the debts of four states exceeded their net revenues by more than 400 per cent. The states include Lagos, Osun, Cross River and Ogun. FRC in its report ‘Debt sustainability analysis of state governments’ for 2019 also showed that the debts of all the 36 states and the…
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Nigeria Debt Hit N32.9 Trillion
Nigeria’s total public debt portfolio as at December 31, 2020, stood at N32.92 trillion. The National Bureau of Statistics, revealed this in its Nigerian Domestic and Foreign Debt report for Quarter Four, 2020. According to the bureau, Nigeria’s total public debt showed that N12.71 trillion or 38.60 per cent of the debt was external, while…
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Nigerian State Total Domestic Debt Increases By 84 Billion
The latest data from the debt management office shows that 12 states were able to reduce their local debt in the last 12 months with Kogi reducing its domestic debt stock by 59.15 billion Naira. The decline from these states couldn’t affect the total domestic debt from all 36 states including the FCT as the…
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Nigeria’s Debt Service Charge Rise By 89%
The cost of servicing Nigeria’s public debt has increased by 88.8 percent in the third quarter of last year (Q3’20). The debt rose from N425.7 billion in Q2’20 to N803.69 billion. The amount was used to service the country’s debt stock of N32.22 trillion during the review period. According to the National Bureau of Statistics, the…