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LequteMan
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Total debt of the Federal Government of Nigeria, the 36 states of the federation and the Federal Capital Territory rose from N8.32tn on September 30, 2013 to N10.84tn on September 30, 2014- an increment of N2.52tn or 30.29 per cent. Punch reports.
According to the Debt Management Office in Abuja on Monday, the N8.32tn did not include the domestic debt of the states in 2013.
Details of the current debt status of the country showed that the external debts of both the federal and state governments stood at $9.52bn or N1.48tn.
As of September 30, the domestic debt stock of the Federal Government alone stood at $49.12bn or N7.65tn. The domestic debt of states, on the other hand, stood at $10.97bn or N1.71tn.
The growth of the nation’s debt stock can be seen in the budget for debt servicing. The Federal Government plans to spend N2.08tn servicing the country’s debt within the next three years, report says.
#Nigeria
According to the Debt Management Office in Abuja on Monday, the N8.32tn did not include the domestic debt of the states in 2013.
Details of the current debt status of the country showed that the external debts of both the federal and state governments stood at $9.52bn or N1.48tn.
As of September 30, the domestic debt stock of the Federal Government alone stood at $49.12bn or N7.65tn. The domestic debt of states, on the other hand, stood at $10.97bn or N1.71tn.
The growth of the nation’s debt stock can be seen in the budget for debt servicing. The Federal Government plans to spend N2.08tn servicing the country’s debt within the next three years, report says.
#Nigeria