Breaking: Nigeria’s Debt hits N31 trillion

Iexclusivenews reports that Nigeria’s Public Debt Stock has hit N31.009 trillion as at June 30, 2020, the Debt Management Office (DMO) said 

A statement issued by the Office said the data showed that in naira terms, the Total Public Debt Stock which comprises the Federal Government, the 36 State Governments and the Federal Capital Territory stood at N31.009 trillion or USD85.897 billion.

Read Also: A 13 man peace committee to Wade into Obiano, Ngige and Author Eze feud 

The DMO said that the corresponding figures for March 31, 2020 were N28.628 trillion or USD79.303 billion.

Read Also: Edo 2020: Commissioner Joseph Ikpea resigns, pledges support for Ize-Iyamu

It added that the increase in the Debt Stock by N2.381 trillion or USD6.593 billion was accounted for by the USD3.36 billion Budget Support Loan from the International Monetary Fund, New Domestic Borrowing to finance the Revised 2020 Appropriation Act, including the issuance of the N162.557 billion Sukuk, and Promissory Notes issued to settle Claims of Exporters.