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23 November 2019

Nigeria owes N25.7 trillion – DMO

Director-General, Debt Management Office, DMO, Patience Oniha says Nigerian’s total debt profile is twenty-five point seven trillion naira, as of June 2019.

This includes the federal, states governments and the Federal Capital Territory, FCT.

The Director-General at the House of Representatives Committee on Public Account on Friday in Abuja said the Federal Government was responsible for eighty per cent of the debt.

Oniha said external borrowing accounted for about thirty-two per cent of the total debt while the sixty-eight per cent was domestic.

She said that the agency was responsible for the management of public debts and its mandate included contracting debts on behalf of the Federal Government.

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