The Director-General of the DMO, Patience Oniha, made this known in a statement on Friday in Abuja. Oniha said that the debt stock comprised the total external and domestic debts of the Federal Government, the 36 state governments, and the Federal Capital Territory (FCT).
According to her, the total domestic debt, as of March, was ₦65.65 trillion (46.29 dollars), while the total external debt was ₦56.02 trillion (42.12 billion dollars). She said that the comparative figure of the total debt stock for December 2023 was ₦97.34 trillion (108.23 billion dollars).
She said that the increase in the total debt stock was informed by growth in the domestic component of the debt to bridge the deficit in the 2024 budget, and instability in the foreign exchange market during the first quarter.
