According to data released by the Debt Management Office, DMO, on Friday in Abuja, Nigeria’s public debt stock as at Dec. 31, 2023 stood at ₦97. 341 trillion which is equivalent to $108.229 billion.
The data released revealed that the amount comprised domestic and external debt stocks of the Federal Government, the Federal Capital Territory, FCT and all the States of the Federation.
Compared to the figure at Sept. 30, 2023, there was an increase of ₦9.43 trillion over the period.
The increase was in no small part due to new domestic borrowing by the Federal Government to part – finance the deficit in the 2024 budget, and payments by multilateral and bilateral lenders, according to the data.
“At ₦59.12 trillion, total domestic debt accounted for 61 per cent of the total public debt stock, while external debt at ₦38.22trillion accounted for the balance of 39 per cent.”