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Nigeria’s Debt Rises By ₦24.33trn In Three Months

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Nigeria’s Debt Rises By ₦24.33trn In Three Months

The Debt Management Office (DMO) of Nigeria has announced that the country’s total public debt increased significantly to N121.67 trillion (approximately $91.46 billion) as of March 31, 2024.  

According to a statement from the DMO, this figure encompasses the combined domestic and external debts of the Federal Government of Nigeria (FGN), the thirty-six state governments, and the Federal Capital Territory (FCT).  

In comparison, the total public debt as of December 31, 2023, stood at N97.34 trillion (approximately $108.23 billion). This represents a substantial increase of N24.33 trillion or 24.99% within a three-month period.  

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