Nigeria’s Debt Hits 31trn -Debt Management Office

Nigeria’s total debt stock as at June 31 2020 has been released by The Debt Management Office (DMO), putting the country’s entire debt at N31.009trillion, which indicates an 8.3 percent rise since March 2020.

|”The DMO expects the public debt stock to grow as the balance of the New Domestic Borrowing is raised and expected disbursements are made by the World Bank, African Development Bank and the Islamic Development Bank which were arranged to finance the 2020 budget.

Additional Promissory Notes are expected to be issued in the course of the year, this, and new borrowings by State Government are also expected to increase the Public Debt Stock.” the DMO in a report explained yesterday.

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