The Debt Management Office (DMO) has revealed that Nigeria’s total public debt rose by 75.29 per cent to N87.38 trillion in the second quarter of 2023.
It surpassed the projection of DMO’s Director-General, Patience Oniha, who had predicted the debt could hit N70 trillion, excluding N5 trillion in new borrowings and promissory notes of N2 trillion.
According to the Q2 report covering April to June and obtained on Friday, DMO said the total public debt increased by N37.53 trillion from N49.85 trillion in Q1 2023.
