Nigeria’s total debt stock has risen by N191bn in the first quarter of 2021 making it N33.1trillion

The Debt Management Office released this figure on Wednesday, stating the debt stock rose to N33.107tn as of the end of March 2021 from N32.916tn in December 2020

DMO said the country’s external debt reduced due to the redemption by Nigeria of the $500m Eurobond in January.

It said, “Total public debt stock, which comprises the debt stock of the Federal Government of Nigeria, 36 state governments and the Federal Capital Territory, stood at N33.107tn or $87.239bn.

“The debt stock also includes promissory notes in the sum of N940.22bn issued to settle the inherited arrears of the FGN to state governments, oil marketing companies, exporters and local contractors.

“Compared to the total public debt stock of N32.92tn as at December 31, 2020, the increase in the debt stock was marginal at 0.58 per cent.”

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