Fresh data by the Debt Management Office (DMO) on Friday in Abuja showed that Nigeria’s public debt stock rose by N9.43tr in three months to hit N97.341 trillion as of Dec. 31, 2023.
The DMO said that the amount comprised domestic and external debt stocks of the federal government, the 36 state governments and the Federal Capital Territory (FCT).
It said that the increase was largely due to new domestic borrowing by the federal government to part–finance the deficit in the 2024 budget and disbursements by multilateral and bilateral lenders.
