The Debt Management Office, DMO, has revealed that the total public debt being owed by Federal and State Governments as at September 30, 2023 was N87.91trillion or USD114.35 billion.
Fresh Angle International can report that this much was revealed in a statement released this morning, Wednesday December 20, by the DMO on its X handle.
According to the Debt Management Office, the amount represents the Domestic and External Debts of the Federal Government of Nigeria (FGN), the thirty-six (36) State Governments and the Federal Capital Territory.
The statement, noted: “At 487.91trillion, the Total Public Debt Stock represents a marginal increase of 0.61% when compared to the June 30, 2023 figure of 487.38trillion.
“This trend. is explained by the decrease in External Debt from USD43.16billion as at June 30, 2023 to USD41.59 billion as at September 30, 2023 and a relatively moderate Increase of N1.80trillion in the Domestic Debt. External Debt decreased due to a redemption of a USD500 million Eurobond and the payment of USD413.859 million as first principal repayment of the USD3.4 billion Loan obtained from the International Monetary Fund in 2020 during Covid-19.
“The servicing of these Debts in addition to other Debts, are clear demonstrations of the FGN's commitment to honouring its debt obligations. Notwithstanding, Mr President's initiatives and actions towards revenue generation remain important for Nigeria's overall fiscal balance.”
Copyright: Fresh Angle International (www.freshangleng.com)
ISSN 2354 - 4104
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