Nigeria borrowed N6.64tn, serviced debt with N2.93tn in 2021, says DMO

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The debt management office announced on Thursday that Nigeria’s total public debt stock will rise to N39.56 trillion in 2021 from N32.92 trillion in 2020.

The Director-General, DMO, Patience Oniha, said this at a media briefing in Abuja.

According to her, the total debt includes new borrowings by the Federal Government and the sub-nationals.

She also said that the amount helped in financing the budget deficit, capital projects and support economic recovery.

Oniha said, “Nigeria’s total public debt as at December 31, 2021, was N39.56tn or $95.78bn. The amount represents the total external and domestic debts of the Federal Government of Nigeria, 36 state governments and the federal capital territory.

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