Nigeria’s debt profile rises to N32.2trn

Minister of Finance, Mrs. Zainab Ahmed

Nigeria’s public debt hit a total of N32.2tn at the end of September, the Debt Management Office announced on Thursday.

The figure implies that the nation’s debt profile rose by N1.19tn between the second and third quarter of 2020.

According to a breakdown provided by the DMO on its website, the Federal Government’s total debt stood at N28tn as of September 2020 while the debt of the states and the Federal Capital Territory stood at N4.19tn.

In dollar terms, Nigeria’s total debt is $84.57bn.

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