Nigeria’s Debt Increased Under Buhari’s Administration – DMO

The Minister of Finance, Mrs. Kemi Adeosun, resigned yesterday, saying in line with the Buhari administration’s stance on integrity, it was honourable for her to resign over allegations on her NYSC exemption certificate.

Debt Profile under Buhari’s Administration within 30 months

According to the Debt Management Office (DMO), Nigeria’s debt stood at N21.73tn as at December 31, 2017, while the figure as of June 30, 2015 was N12.12tn.

This suggests that within a period of 30 months – July 2015 to December 2017 – the country’s debt rose by N9.61tn, or 79.25 per cent.

DMO figures show the composition of the debts as of the end of 2017 showed that external debt was 26.64 percent of the portfolio, up from 20.04 per cent in 2016; while the domestic debt was 73.36 per cent, down from 79.96 per cent in 2016.

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