Paschal Emeka, Abuja
The reviewed official documents from the monthly issuance reports by the Debt Management Office (DMO) and the Central Bank of Nigeria, CBN, indicates that Nigeria’s debts have risen by about N4 trillion in the past five months to N45.25 trillion.
Details of the document shows the federal government accounted for more than 88 per cent of the debt stock.
The documents revealed that the federal government raised about N3.34 trillion through its regular issuance of domestic debt instruments between April and August.
The domestic debts rose from N24.987 trillion in the first quarter to N28.322 trillion by August.
The debt stock, which stood at N32.92 trillion by December 2020, rose to N39.556 trillion by December 2021 and N41.6 trillion by the end of the first quarter of 2022