Home Business Nigeria’s domestic debt hits ₦19.63tr – DMO
Nigeria’s domestic debt hits ₦19.63tr – DMO
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Nigeria’s domestic debt hits ₦19.63tr – DMO

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Nigeria’s public debt stock for both the Federal Government and the states currently stands at N19.63 trillion.

According to a report by the Debt Management Office, external debt stock of both tiers is N4.6 trillion while the domestic debt stock of the federal government is N12 trillion.

The report also reveal that the federal government spent N253.3 billion on domestic debt servicing in the second quarter of 2017

Domestic debt is the amount of money raised by any government denominated in local currency and from its own residents. It consists of two categories of bank and non-bank borrowing.

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