DMO: Nigeria’s Public Debt Grew 49% to N144.67tn by December 2024

Ndubuisi Francis in Abuja 

Nigeria’s total public, comprising debts owed the Federal and state governments, as well as the Federal Capital Territory (FCT)  increased to N144.67 trillion ($94.23 billion) by December  31, 2024, up from N97.34 trillion ($108.23 billion) posted at the end of December 2023, the Debt Management Office (DMO) has revealed.

In its latest debt statistics, the figure represented a 48.58 per cent year-on-year increase.

The steep increase was traced to new external borrowings and the impact of naira depreciation, which raised the naira equivalent of dollar-denominated debt.

According to the debt management agency, the statistics equally revealed a quarter-on-quarter rise of 1.65 per cent from the N142.32 trillion ($88.89 billion) recorded at the end of September 2024.

The development underscored the unabating rise in the nation’s public debt profile. 

Details later…

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    Yinka Kolawole in Osogbo  Governor Ademola Adeleke of Osun State is scheduled to attend a series of high-level investment engagements in London this week, including the prestigious Commonwealth Business Forum

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