Tag
DOMESTIC DEBT
News and analysis about domestic debt
Financial experts are raising concerns that Nigeria could be entering a full-blown debt trap, where the government is forced to take on new loans just to service existing obligations.
According to the latest subnational debt report by the Debt Management Office (DMO), the domestic debt of the 36 states and the FCT stood at N4.21 trillion as of September 30, 2024, reflecting a marginal decrease from N4.27 trillion recorded on June 30, 2024.
The domestic debt of Nigeria’s 36 states and the Federal Capital Territory (FCT) increased by N198.96 billion within three months.
This article gives a detailed analysis of the top 10 Nigerian states with the highest domestic debt as of Q2 2024:
Nigeria's public debt stock surged to N134.3 trillion ($91.3 billion) by the end of the second quarter of 2024.
The Debt Management Office (DMO) of Nigeria recently announced that the nation’s total public debt increased significantly to N121.67 trillion (approximately $91.46 billion) as of March 31, 2024.
Data released by DMO reveals the total domestic debt stock of the 36 states and the Federal Capital Territory (FCT) reached N5.862 trillion by December 31, 2023
At least 11 out of the 18 newly elected governors successfully reduced their inherited domestic debts by a significant N111.35 billion in the short span from June to September 2023.
The Federal Government has hinted at plans to restructure Nigeria’s debt with the extension of the repayment period...
An average individual in Nigeria based on equal allocation owes an aggregate of N162,000 of Nigeria's total debt.
Nigeria spent a sum of N1.02 trillion on servicing domestic and foreign debts in the first quarter of 2021
Nigeria has a total public debt (External and Domestic) of N32.22 trillion ($84.57 billion) as of September 2020.