Nigeria’s Debt Hits N50 Trillion
Business News, Featured, Latest Headlines Monday, March 6th, 2023
(AFRICAN EXAMINER) – Nigeria’s total public debt portfolio now stands at about N48.93 trillion, with the government borrowing about N3.73 trillion over the past five months.
Data obtained yesterday showed that the government raised about N1.599 trillion in the fourth quarter of 2022.
A breakdown indicated that Nigeria’s domestic debts have risen to about N30.643 trillion, primarily due to new borrowings of about N1.599 trillion in the fourth quarter of 2022 and N2.129 trillion between January and February 2023.
Nigeria’s external debt increased to N18.282 trillion, mainly due to the depreciation of the naira against the dollar.
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