Nigeria Owes N25.7 Trillion – DMO

Last updated on September 11th, 2021 at 03:13 pm

The Debt Management Office (DMO) says that Nigerian’s total debt profile is N25.7 trillion.

The Director-General of the office, Patience Oniha, announced this while addressing House of Representatives Committee on Public Account on Friday in Abuja.

“As at June 2019, our debt profile is at N25.7 trillion; this includes the federal, states governments and the Federal Capital Territory (FCT).

“We call it the total public debt, out of this total, the federal government is responsible for 80 per cent of the debt,” she said.

Ms Oniha said external borrowing accounted for about 32 per cent of the total debt while the 68 per cent was domestic.