Nigeria’s debt profile to hit N72trn, as govt plans another N8.8tn loan

The Debt Management Office (DMO) has raised concerns as Nigeria’s public debt is set to hit N72 trillion.

Patience Oniha, the DG of DMO raised the concerns on Wednesday at the public presentation and a breakdown of the highlights of the 2023 Appropriation Act in Abuja.

Oniha stressed that the huge fiscal deficit in the budget can only be reduced by an improvement in revenue generation.