Every Nigerian reportedly owes an amount of ₦619,501 following a debt review for the second quarter debt portfolio of the country released by the National Bureau of Statistics (NBS). According to the data published by the Debt Management Office, the country’s public debt stood at N134.297 trillion as of the second quarter of 2024 (June 2024).... CLICK TO READ THE FULL NEWS HERE▶▶
With the National Bureau of Statistics putting the country’s population at 216.7 million, it would mean that debt per capita stands at N619,501 based on the latest debt figure released by the DMO.
The data from DMO stated, “The total public debt is N134tn. This includes public debt stock – external and domestic debt of the FGN (Federal Government of Nigeria), states, and FCT (Federal Capital Territory) as of June 30, 2024.”
The data revealed that domestic debt stands at N71.2 trillion, while external debt stands at N63 trillion.
Of the amount owed, states owe N7.1 trillion externally while the federal government owes N55.8 trillion externally.
States owe N4.2 trillion domestically while the federal government owes N66.9 trillion.
The new debt figure of the country put at N134 trillion is a N13 trillion increase from the N121 trillion recorded as of March 2024. This development comes amid clamor for less reliance on loans by the Nigerian government..… CLICK TO READ THE FULL NEWS HERE▶▶
