Nigeria's Public Debt Stock Stood At N31.01trn As of June 2020

Proshare

Thursday, September 10, 2020 / 11:25 AM / by DMO / Header Image Credit: Vanguard

 

Proshare Nigeria Pvt. Ltd.


The Debt Management Office (DMO), has released information on the Public Debt Stock as at June 30, 2020.

 

The data shows that in Naira Terms, the Total Public Debt Stock which comprises the Debt Stock of the Federal Government, the 36 State Governments and the Federal Capital Territory stood at N31.009 Trillion or USD85.897 Billion.

 

The corresponding figures for March 31, 2020 were N28.628 Trillion or USD79.303 Billion.

 

The increase in the Debt Stock by N2.381 Trillion or USD6.593 Billion was accounted for by the USD3.36 Billion Budget Support Loan from the International Monetary Fund, New Domestic Borrowing to finance the Revised 2020 Appropriation Act including the issuance of the N162.557 Billion Sukuk, and Promissory Notes issued to settle Claims of Exporters.

 

The DMO expects the Public Debt Stock to grow as the balance of the New Domestic Borrowing is raised and expected disbursements are made by the World Bank, African Development Bank and the Islamic Development Bank which were arranged to finance the 2020 Budget.

 

It will be recalled that the 2020 Appropriation Act had to be revised in the face of the adverse and severe impact of COVID-19 on Government's Revenues and increased expenditure needs on health and economic stimulus amongst others.

 

Additional Promissory Notes are expected to be issued in the course of the year, this, and new borrowings by State Governments are also expected to increase the Public Debt Stock.

 

Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

 

Related News

  1. External Debt Stock Flat in Q1 2020
  2. Q1 2020: Debt Service Settled on a Plateau
  3. Nigeria's Total Public Debt Stood At N28.63trn in Q1 2020 - NBS
  4. Nigeria's Total Public Debt Stood At N27.40trn in Q4 2019 - NBS
  5. Nigeria's Rising Debt Burden and How to Boost Revenue
  6. Nigeria's Total Public Debt Stood At N26.14trn in Q3 2019 - NBS
  7. Nigeria's Total Public Debt Stood At N25.70trn in Q2 2019 - NBS
  8. Nigeria's Total Public Debt Stood At N24.97trn in Q1 2019 - NBS
  9. DMO Releases Q1 2019 Public Debt Data - Marginal Increase of 2.3% in Total Public Debt Recorded
  10. DMO Releases Public Debt Data for December 2018
  11. Nigeria's Total Public Debt Stock Stood At $73.21bn or N22.43trn in Q3 2018
  12. DMO Releases Public Debt Data for June 2018; FGN Domestic Debt Declines
  13. Public Debt Vulnerable to Exchange Rate Movements
  14. DMO Publishes Q1 2018 Debt Data; Total Public Debt Stood At N22.71trn or US$74.28bn
  15. Total Public Debt as at December 31, 2017 Represents 18.20% of Nigeria's GDP for 2017 - DMO
  16. Nigerian Public Debt - A Comparative Analysis

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.
READ MORE:
Related News
SCROLL TO TOP