Nigeria’s Public Debt Has Reached N121trn Within Three Months- DMO Says - Politics

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Nigeria’s Public Debt Has Reached N121trn Within Three Months- DMO Says - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Nigeria’s Public Debt Has Reached N121trn Within Three Months- DMO Says (352 Views)

13 New Governors Borrowed ₦‎226.8 Billion In Six Months – DMO / Each Nigerian Owes N396,376 As Public Debt Rises To N87.4 Trillion / Loan Default: DMO Says China Won’t Take Possession Of Projects In Nigeria (2) (3) (4)

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Nigeria’s Public Debt Has Reached N121trn Within Three Months- DMO Says by BeeBeeOoh(m): 8:57pm On Jun 20

The Debt Management Office (DMO) says Nigeria’s total public debt has reached N121.67 trillion within three months.

This figure represents an increase of N24.33 trillion or 24.99 percent from the N97.34 trillion as of December 2023.

Nigeria’s public debt profile consists of domestic and external debt stocks of the federal and subnational governments — the 36 states and the federal capital territory (FCT).

According to the DMO, the increase was primarily due to new domestic borrowing by the federal government to partly fund the deficit in the 2024 budget as well as disbursements by multilateral and bilateral lenders.

"Total domestic debt was N65.65 trillion (USD46.29 billion) while total external debt was N56.02 trillion (USD42.12 billion).

“Excluding naira exchange rate movements in Q1 2024, only the domestic debt component of total public debt grew from N59.12 trillion on December 31, 2023, to N65.65 trillion on March 31, 2024.

“The increase was from new borrowing to part-finance the 2024 Budget deficit and securitization of a portion of the N7.3 trillion Ways and Means Advances at the Central Bank of Nigeria.

"Whilst borrowing, as provided in the 2024 Appropriation Act, will continue, we expect improvements in the government’s revenue to enhance debt sustainability.”

On June 13, Wale Edun, the minister of finance and coordinating minister of the economy, announced the approval of two major “financial support packages” by the World Bank — valued at $2.25 billion.

In May, the Bureau of Public Enterprises (BPE) said the federal government has secured a $500m World Bank loan to boost electricity distribution in the country.

Prior to this, the federal government had received $750 million from the World Bank for humanitarian and social reforms and $1.5 billion for its economic stabilisation plan.

https://www.thecable.ng/just-in-nigerias-debt-now-n121trn-says-dmo/amp/

Re: Nigeria’s Public Debt Has Reached N121trn Within Three Months- DMO Says by esira: 8:58pm On Jun 20

How do we come out from this of one may ask ?

Re: Nigeria’s Public Debt Has Reached N121trn Within Three Months- DMO Says by JAMANZE: 8:59pm On Jun 20

Apc has finished this country. Obi please come

2 Likes

Re: Nigeria’s Public Debt Has Reached N121trn Within Three Months- DMO Says by Kingsmeal: 9:04pm On Jun 20

helinues your attention is needed here.

Re: Nigeria’s Public Debt Has Reached N121trn Within Three Months- DMO Says by helinues: 9:06pm On Jun 20

Kingsmeal:
helinues your attention is needed here.

Now that I am here. Send the account number so that I can pay the debt. Abi no be the reason why you mentioned me be that?

Re: Nigeria’s Public Debt Has Reached N121trn Within Three Months- DMO Says by Mystic216: 9:08pm On Jun 20

This is just one year in office oo
We still get three years to go
Thank God me and my family are financially comfortable

Re: Nigeria’s Public Debt Has Reached N121trn Within Three Months- DMO Says by 0001Lagos: 9:09pm On Jun 20

The way Tinubu government is borrowing money, he would soon borrow money from loan apps

Useless borrow borrow president

Re: Nigeria’s Public Debt Has Reached N121trn Within Three Months- DMO Says by Mystic216: 9:10pm On Jun 20

helinues:

Now that I am here. Send the account number so that I can pay the debt. Abi no be the reason why you mentioned me be that?

They said 121.67 trillion. Not your monthly 30k

1 Like

Re: Nigeria’s Public Debt Has Reached N121trn Within Three Months- DMO Says by helinues: 9:12pm On Jun 20

Mystic216:

They said 121.67 trillion. Not your monthly 30k

I said you should send the account details.

Alhamdullilahi Owo mi po daada, yen yen yen..

Re: Nigeria’s Public Debt Has Reached N121trn Within Three Months- DMO Says by Hollybratt(m): 9:14pm On Jun 20

helinues:

Now that I am here. Send the account number so that I can pay the debt. Abi no be the reason why you mentioned me be that?

1 Like 1 Share

Re: Nigeria’s Public Debt Has Reached N121trn Within Three Months- DMO Says by Xscape1993(m): 9:19pm On Jun 20

The drug master, a known agbero, tout, certificate forger, suspected killer of Funso Williams and strange man without any economy knowledge has nothing to offer. Their president is the most wicked president without human feelings in the history of Nigeria's political development.

Re: Nigeria’s Public Debt Has Reached N121trn Within Three Months- DMO Says by unclejb2(m): 9:23pm On Jun 20

APC is evil

1 Like

Re: Nigeria’s Public Debt Has Reached N121trn Within Three Months- DMO Says by Xscape1993(m): 9:23pm On Jun 20

Mystic216:
This is just one year in office oo
We still get three years to go
Thank God me and my family are financially comfortable

What about others that are not financially comfortable my dear?

Re: Nigeria’s Public Debt Has Reached N121trn Within Three Months- DMO Says by Hollybratt(m): 9:24pm On Jun 20

Tinubu started borrowing from primary school

1 Like

Re: Nigeria’s Public Debt Has Reached N121trn Within Three Months- DMO Says by Feintline: 9:35pm On Jun 20

He came to steal, kill, plunder and destroy.
Rejected by nature, citizens and God.
The greatest curse that has befallen the nation since it was created.

Re: Nigeria’s Public Debt Has Reached N121trn Within Three Months- DMO Says by MhisterJay(m): 9:54pm On Jun 20

Hmmm...

Re: Nigeria’s Public Debt Has Reached N121trn Within Three Months- DMO Says by Macphenson: 9:57pm On Jun 20

hmmm

Re: Nigeria’s Public Debt Has Reached N121trn Within Three Months- DMO Says by RoyalUc(m): 10:00pm On Jun 20

Ok o

Re: Nigeria’s Public Debt Has Reached N121trn Within Three Months- DMO Says by PressMyButton: 10:10pm On Jun 20

Mystic216:
This is just one year in office oo
We still get three years to go
Thank God me and my family are financially comfortable

It's a debt profile of Federal and the subnationals- the 36 states of the federation. I believe you headless mobs read that in the article but would rather push your narratives and ipob agenda against the President. Meanwhile all 5 SE states are part of the debt profile. dey play

Re: Nigeria’s Public Debt Has Reached N121trn Within Three Months- DMO Says by chatinent: 10:25pm On Jun 20

Do you know that the major supporters of this govt don't live in Nigeria?

That's to show you how wicked some people can be.

Re: Nigeria’s Public Debt Has Reached N121trn Within Three Months- DMO Says by Mynd44: 6:39am On Jun 21

https://www.nairaland.com/8130836/nigerias-public-debt-rises-24.33

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