The Debt Management Office (DMO) said the total public debt stock of Nigeria as of March was N49.95 trillion ($108.30 billion).<\/p>\n
DMO said in a statement on its official website on Sunday, that the debt stock comprises the external and domestic debts of the Federal Government, the 36 states and Federal Capital Territory.<\/p>\n
The country\u2019s total debt for the preceding period of Dec. 21, 2022, is N46.25 trillion ($103 billion).<\/p>\n
It indicated an increase of about N3 trillion.<\/p>\n
The total debt stock, however, excludes the Federal Government\u2019s N22.719 trillion Ways and Means Advances of the Central Bank of Nigeria (CBN),<\/p>\n
The National Assembly approved CBN\u2019s securitisation in May.<\/p>\n
According to DMO, the Ways and Means will be included in the debt stock of the Federal Government from June.<\/p>\n
Meanwhile, DMO recently released the Market Access Country-Debt Sustainability Analysis (MAC-DSA) to promote transparency.<\/p>\n
The MAC-DSA is a World Bank\/IMF tool for best practices in public debt management.<\/p>\n
The DMO has adopted and implemented it over the years.<\/p>\n
According to DMO, MAC-DSA is an annual exercise anchored by it, with the participation of key Federal Government agencies.<\/p>\n
It listed such agencies include the CBN, Budget Office of the Federation and Office of the Accountant General of the Federation (OAGF).<\/p>\n
Others are the National Bureau of Statistics (NBS) and the Federal Ministry of Finance, Budget and National Planning.<\/p>\n
Patience Oniha, Director-General of DMO, said the recent DSA reports highlighted the need for more revenues to keep public debt sustainable.<\/p>\n
Oniha said the 2022 DSA report, recently released, also emphasised the need for the government to grow revenues.<\/p>\n
She commended recent policies of the present administration as capable of enhancing debt sustainability.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Debt Management Office (DMO) said the total public debt stock of Nigeria as of March was N49.95 trillion ($108.30 billion). DMO said in a statement on its official website on Sunday, that the debt stock comprises the external and domestic debts of the Federal Government, the 36 states and Federal Capital Territory. The country\u2019s […]<\/p>\n","protected":false},"author":2,"featured_media":2534,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-2533","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"_links":{"self":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts\/2533","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/comments?post=2533"}],"version-history":[{"count":1,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts\/2533\/revisions"}],"predecessor-version":[{"id":2535,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts\/2533\/revisions\/2535"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/media\/2534"}],"wp:attachment":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/media?parent=2533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/categories?post=2533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/tags?post=2533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}