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Learn about Blockchain technology part 3

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Nigeria’s Public Debt Hits N46.25trn In Q4 2022 – NBS

 

Nigeria's entire public debt stock increased to N46.25 trillion ($103.11 billion) in the fourth quarter of 2022, according to the Debt Management Office.



The amount of Nigeria's debt as of September 2022 was N44.06 trillion. The Federal Government and the subnational governments' entire domestic and foreign debt stocks are included in the new figure, according to the DMO. (36 state governments and the Federal Capital Territory).



As of December 31, 2021, the comparable amount of state debt was N39.56 trillion ($95.77 billion). As a result, the nation's debt rose by N6.69 trillion ($7.34 billion) in a single year.



According to the DMO, additional borrowing by the FGN and sub-national governments, mainly to finance budget deficits and carry out projects, as well as the issuance of promissory notes to settle some liabilities, also contributed to the increase in debt.


Nigeria's entire public debt stock increased to N46.25 trillion ($103.11 billion) in the fourth quarter of 2022, according to the Debt Management Office.


The amount of Nigeria's debt as of September 2022 was N44.06 trillion. The Federal Government and the subnational governments' entire domestic and foreign debt stocks are included in the new figure, according to the DMO. (36 state governments and the Federal Capital Territory).


As of December 31, 2021, the comparable amount of state debt was N39.56 trillion ($95.77 billion). As a result, the nation's debt rose by N6.69 trillion ($7.34 billion) in a single year.


According to the DMO, additional borrowing by the FGN and sub-national governments, mainly to finance budget deficits and carry out projects, as well as the issuance of promissory notes to settle some liabilities, also contributed to the increase in debt.

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