Patience Oniha, Director-General, Debt Management Office (DMO), says the total public debt of Nigeria as at December 31, 2018 is N24.38-trillion.
Oniha said that the figure comprised of debt owed by the Federal Government, States and Federal Capital Territory (FCT).
She explained that the figure was N2.66trn higher than the N21.7trn recorded as at December 31, 2017, and represents year-on-year growth of 12.25 per cent.
“Further details provided in the report showed that more progress was made towards achieving the target Debt Stock mix of 60 per cent (Domestic) and 40 per cent (External).
“The share of domestic debt dropped to 68.18 per cent from 73.36 per cent as at December 31, 2017, thereby achieving a mix of 68.18 per cent and 31.82 per cent in the debt stock.”
She said the federal government loans accounted for 78 per cent of the figure, while states and the FCT accounted for 22 per cent.
The Federal Government, she said, has an external debt stock of N6.4trn and Domestic at N17.11trn, culminating in N19.23trn, while the states and the FCT have foreign debt of N1.25trn and N3.85trn domestic debt, culminating in N5.15trn.
Oniha said that the Federal Government’s domestic debt stock includes N331.12bn Promissory Notes issued to Oil Marketing Companies and State Governments in December 2018.
(NAN)