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Nairaland Forum / Nairaland / General / Politics / Federal Government's Debt Rises By N1trillion In The Past Ten Months (479 Views)
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Federal Government's Debt Rises By N1trillion In The Past Ten Months by Bintus2much(m): 11:28pm On Apr 13, 2011 |
FG’s public debt rises by N1trn The total public debt of the Federal Government, comprising both external and securitised domestic debt, rose by $6.7 billion (about N1.005 trillion) in the past ten months, from $25.82 billion as at December 31, 2009 to $32.5 billion, currently. The Director-General, Debt Management Office, DMO, Dr. Abraham Nwankwo, who stated this at a media chat yesterday, in Lagos, also disclosed that two bookrunners have been shortlisted for appointment next week, for Nigeria’s planned sale of $500 million Eurobond before the end of the year. Nwankwo noted that the domestic debt stock constitutes the bulk of the total public debt at $28 billion, accounting for about 86 percent of the total while the remaining $4.5 billion is for external debt. Statistics He revealed a steady increase in domestic debt from 2005 to date, except for 2008 when a marginal decrease was recorded. The domestic debt in 2005 was $11.83 billion; 2006, $13.81 billion; 2007, $18.58 billion; 2008, $17.69 billion, and $21.87 billion in 2009. The figures for the external debt stocks, however, show that $20.48 billion was recorded in 2005, $3.54 billion in 2006, $3.65 billion in 2007, $3.72 billion in 2008, while $3.95 billion was recorded as external debt in 2009. Nwankwo also debunked insinuation that the interest rates on Nigeria’s external borrowings are as high as 20 percent. http://www.vanguardngr.com/2010/11/fgs-public-debt-rises-by-n1trn/ |
Re: Federal Government's Debt Rises By N1trillion In The Past Ten Months by seal777(m): 1:37am On Apr 14, 2011 |
Yeee!!!, our future had been mortgaged to achieve a south south presidency. |
Re: Federal Government's Debt Rises By N1trillion In The Past Ten Months by AljUche: 1:38am On Apr 14, 2011 |
![]() ![]() ![]() ![]() ![]() ![]() ![]() GEJ ![]() |
Re: Federal Government's Debt Rises By N1trillion In The Past Ten Months by ektbear: 2:46am On Apr 14, 2011 |
I thought we cleared all of Nigeria's debt when OBJ left office. How are we back up to $30 billion+? |
Re: Federal Government's Debt Rises By N1trillion In The Past Ten Months by ektbear: 2:47am On Apr 14, 2011 |
Lol, first comment of the article asks the same question. |
Re: Federal Government's Debt Rises By N1trillion In The Past Ten Months by jason123: 2:51am On Apr 14, 2011 |
seal777: Una never see anything!!! ![]() ![]() ![]() |
Re: Federal Government's Debt Rises By N1trillion In The Past Ten Months by Kobojunkie: 6:15am On Apr 14, 2011 |
I would rather we be told what the money has actually been spent on. |
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