Nigeria’s Public Debt Hits N49 Trllion

The New Diplomat
Writer
Debt Management Office

Ad

Tinubu Departs Brazil for Nigeria After State Visit

By Abiola Olawale President Bola Ahmed Tinubu has concluded a three-day state visit to Brazil, departing the country for Abuja on Wednesday, August 27, 2025. The New Diplomat reports that the presidential jet took off from Brasília International Airport Air Force Base, with a ceremonial send-off attended by Brazil’s Secretary for Africa and the Middle…

President’s son jailed 6 years in fraud case as power tussle soars in Equatorial Guinea

• Two brothers at war over who succeeds Nguema Mbasogo By Obinna Uballa An Equatorial Guinea court has sentenced Ruslan Obiang Nsue, son of President Teodoro Obiang Nguema Mbasogo, to six years in prison for illegally selling a plane belonging to the state airline, Ceiba Intercontinental, a case analysts say reflects growing rivalry within the…

Details: Why Roosevelt Ogbonna Quit Access HoldCo board

• He remains Bank MD, Says Access By Obinna Uballa Access Holdings Plc has explained that Mr. Roosevelt Ogbonna, Managing Director and Chief Executive Officer of Access Bank Plc, resigned from the Board of the HoldCo to comply with regulatory guidelines issued by the Central Bank of Nigeria (CBN). The company, in a statement signed…

Ad

By Agency Report 

The Debt Management Office (DMO) said the total public debt stock of Nigeria as at March was N49.95 trillion (108.30 billion dollars).

According to a statement obtained from the DMO official website on Sunday, the total debt stock comprises the external and domestic debts of the Federal Government, the 36 states and the Federal Capital Territory (FCT).

The News Agency of Nigeria (NAN) reports that the country’s total debt for the preceding period 0f Dec. 21, 2022 was N46.25 trillion (103 billion dollars), indicating an increase of about three trillion Naira.

The total debt stock, however, excludes the Federal Government’s N22.719 trillion Ways and Means Advances of the Central Bank of Nigeria (CBN), whose securitisation was approved by the National Assembly in May.

According to the DMO, the Ways and Means will be included in the debt stock of the Federal Government from June.

Meanwhile, the DMO recently released the Market Access Country-Debt Sustainability Analysis (MAC-DSA) to promote transparency.

The MAC-DSA is a World Bank/IMF tool for best practices in public debt management, which the DMO adopted and has implemented over the years.

According to the DMO, it is an annual exercise anchored by it, with the participation of key Federal Government agencies.

It listed such agencies to include the CBN, Budget Office of the Federation and Office of the Accountant General of the Federation (OAGF).

Others are the National Bureau of Statistics (NBS) and the Federal Ministry of Finance, Budget and National Planning.

According to Patience Oniha, Director-General of the DMO, the recent DSA reports highlighted the need for more revenues to keep the public debt sustainable.

Oniha said that the recently released DSA report, which was for 2022, also emphasised the need for the government to grow revenues.

She commended some of the recent policies of the present administration as capable of enhancing debt sustainability.

“Policies like the removal of subsidies to manage expenditure and the focus on revenue through the appointment of a Special Adviser to the President on Revenue were positive steps for public debt sustainability, ” Oniha said. (NAN)

Ad

X whatsapp