Nigeria’s public debt hit a total of N32.2tn at the end of September 2020, the Debt Management Office announced on Thursday.
The figure implies that the nation’s debt profile rose by N1.19tn between the second and third quarters of 2020.
According to a breakdown provided by the DMO on its website, the Federal Government’s total debt stood at N28tn as of September while the debt of the states and the Federal Capital Territory stood at N4.19tn.
Further disaggregation of Nigeria’s public debt showed that the domestic debt is N20tn or 62.18 percent of the total debt while foreign debt is 37.82 percent.
In dollar terms, Nigeria’s total debt is $84.57bn.
The Minister of Finance, Budget and National Planning, Zainab Ahmed, had said last month that Nigeria’s total public debt may rise further by N6tn, hitting N38.68tn by December 2021.