In News by Oluwaseun Samuel on the 15th, September, 2020

Unhappy Information As Nigeria’s Whole Public Debt Will increase By N2.four Trillion In Q2 2020

Sad News As Nigeria’s Total Public Debt Increases By N2.4 Trillion In Q2 2020

Muhammadu Buhari

Buhari

 

In response to Debt Administration Workplace (DMO), the nation’s whole (Federal and states) public debt portfolio stood at N31.01trn as at 30th June 2020.

 

The report confirmed that N11.36trn or 36.65% of the debt was exterior whereas N19.65trn or 63.35% of the debt was home.

 

Whole public debt inventory elevated by $6.5 billion (₦2.four trillion) from Q1 2020 to Q2 2020, because of the improve in multilateral loans and FGN bonds.

 

The entire States and FCT home debt was put at N4.19trillion with Lagos state accounting for 11.77% of the debt inventory whereas Yobe State has the least debt inventory on this class with a contribution of zero.70%.

 

Exterior public debt in Q2 2020 elevated to $31.5billion (₦11.four trillion) on account of loans from the IMF ($three.four billion) and World Financial institution ($400 million).

 

Home debt inventory additionally elevated by $2.eight billion (₦1 trillion) principally pushed by a rise in FGN bonds by ₦700 billion.

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