Nigeria’s Total Debt Stock Now $84.5Bn, Says DMO

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Debt Management Office (DMO) has put Debt stock at N32.223trillion or $84.574 as at today, December 31, 2020.

This, according to agency in a statement it released this evening, is a 3.91% rise from N31.009trillion recorded as at June 30, 2020.

See full statement…


The Q3, 2020 Public Debt Stock released by the Debt Management Office (DMO), revealed the Public Debt Stock stood at N32.223 Trillion or USD84.574 Billion.

The Debt Stock is made of the Domestic and External Debt Stocks of the of (FGN), the 36 State Governments and the (FCT).

The break down of the Public Debt Stock showed 37.82% was External, while the balance of 62.18% was Domestic.

Compared to the Public Debt Stock of N31.009 Trillion as at June 30, 2020, the Debt Stock in Q3 2020 increased by N1.214 Trillion or 3.91%.

The FGN, State Governments and the FCT all recorded increases in their Debt Stock due to borrowings to enable them respond appropriately to the COVID-19 Pandemic and to meet revenue shortfalls.

Issuance of Promissory Notes by the FGN to settle inherited liabilities have also contributed to the growth in the Public Debt Stock since the year 2018 when they were first issued.

While N20.136 Billion of Promissory Notes were issued in Q3, 2020, as at September 30, 2020, the Promissory Notes Outstanding, which are all included in the Domestic Debt Stock, stood at N971.878 Billion.