A report has revealed that in September 2017, Nigeria’s debt stock has increased by 3.6 percent bringing it to a total of N20.37 trillion.
The Debt Management Office(DMO) has made this known in a statement released to the media on Tuesday, saying that the total public debt stock comprising the Federal Government, the 36 states and the Federal Capital Territory, stood at N20.37tn as of September 30.
Punch reports that a breakdown of the debt stock shows that domestic debt accounted for 76.96 percent, while external debt accounted for 23.04 percent.
According to DMO, the debt data lend credence to government’s claims that the public debt stock was skewed in favour of domestic debt which is partly responsible for the high debt service figures.
Meanwhile, NAIJ.com previously reported that the federal government was warned about its rising debt profile, especially foreign loans, by the International Monetary Fund (IMF).