Nigeria’s total public debt as of December 31, 2020, stood at N32.915 trillion. The figures include the Debt Stock of the Federal and State Governments, as well as the Federal Capital Territory (FCT).
The Debt Management Office (DMO) released the data, this afternoon.
It said that “after Nigeria exited recession in 2017, the level of new borrowing at the federal level as shown in the Annual Appropriation Acts, had been declining as part of the Government’s measures to moderate the rate of growth in the Public Debt Stock in order to ensure debt sustainability.
“New borrowing to part-finance budget deficits had declined steadily from N2.36 trillion in 2017 to N2.01 trillion in 2018, N1.61 trillion in 2019 and N1.59 trillion in the first 2020 Appropriation Act.”