Nigeria’s total public debt increased to N97.341 trillion in the fourth quarter of 2023.
The Debt Management Office disclosed this in a statement released on Friday.
The figure comprises the domestic and external debt stocks of the Federal Government of Nigeria, FGN, the 36 state governments and the Federal Capital Territory, FCT.
Accordingly, the amount represents N9.43 trillion over the comparative figure for September 2023, which stood at N87.91 trillion.
DMO noted that the country’s domestic debt, which stood at N56.12 trillion, accounted for 61 per cent, while external debt, which stood at N38.22 trillion, accounted for 39 per cent of the total debt stocks.
“Consistent with the debt management strategy, Nigeria’s External Debt Stock was skewed in favour of loans from multilateral (49.77 per cent) and bilateral lenders (14.02 per cent) or a total of 63.79 per cent, which are mostly concessional and semi-concessional.
“Whilst the DMO continues to employ best practices in public debt management, the recent and ongoing efforts of the fiscal authorities to shore up revenue will support debt sustainability,” DMO stated.
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