Press Release: Nigeria's Total Public Debt Stock As At June 30, 2022

Monday, 19 September 2022 16:43



The Total Public Debt Stock, representing the Domestic and External Debt Stocks of the Federal Government of Nigeria (FGN), the thirty-six (36) State Governments and the Federal Capital Territory (FCT), was N42.84 trillion (USD103.31 billion) as at June 30, 2022. The comparative figures for March 30, 2022, was N41.60 trillion (USD100.07 billion).

The Total External Debt Stock was USD40.06 billion (N16.61 trillion) as at June 30, 2022, which was about the same level as the figure for March 31, 2022, which stood at USD39.96 billion (N16.61 trillion). Over fifty-eight percent (58%) of the External Debt Stock are concessional and semi-concessional loans from multilateral lenders such as the World Bank, International Monetary Fund, Afrexim and African Development Bank and bilateral lenders including Germany, China, Japan, India and France.

The Total Domestic Debt Stock as at June 30, 2022, was N26.23 trillion (USD63.24 billion) due to New Borrowings by the FGN to part-finance the deficit in the 2022 Appropriation (Repeal and Enactment) Act, as well as New Borrowings by State Governments and the FCT.

The Total Public Debt to GDP as at June 30, 2022, was 23.06% compared to the ratio of 23.27% as at March 30, 2022, and remains within Nigeria’s self-imposed limit of 40%. While the FGN continues to implement revenue-generating initiatives in the non-oil sector and block leakages in the oil sector, Debt Service-to-Revenue Ratio remains high.


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September 19, 2022

Official Retreat on the Review of the DMO (Establishment, Etc.) Act, 2003 in Abuja on September 6, 2022

Wednesday, 07 September 2022 23:11

Yesterday, the DMO held a retreat for the review of the Debt Management Office (Establishment, Etc.) Act, 2003 at the NAF Conference Centre, Kado, Abuja.

The one-day retreat, which was facilitated by Adeyinka Ajayi and Co. legal practitioners, gave senior staff and management of the DMO the opportunity to evaluate the Act and make possible recommendations where necessary.

The retreat was facilitated by Adeyinka Ajayi and Co. legal practitioners.