Nigeria's Public Debt Stock as of September 30, 2020 Stood at N32.22trn

Monday, January 04, 2021 / 08:38 AM / by DMO / Header Image Credit: Vanguard

The Q3, 2020 Total Public Debt Stock released by the Debt Management Office (DMO), revealed that the Total Public Debt Stock stood at N32.223 Trillion or USD84.574 Billion.

The Debt Stock is made up of the Domestic and External Debt Stocks of the Federal Government of Nigeria (FGN), the 36 State Governments and the Federal Capital Territory (FCT).

The break down of the Public Debt Stock showed that 37.82% was External, while the balance of 62.18% was Domestic.

Compared to the Total Public Debt Stock of N31.009 Trillion as at June 30, 2020, the Debt Stock in Q3 2020 increased by N1.214 Trillion or 3.91%.

The FGN, State Governments and the FCT all recorded increases in their Debt Stock due to borrowings to enable them respond appropriately to the COVID-19 Pandemic and to meet revenue shortfalls.

Issuance of Promissory Notes by the FGN to settle inherited liabilities have also contributed to the growth in the Public Debt Stock since the year 2018 when they were first issued. While N20.136 Billion of Promissory Notes were issued in Q3, 2020, as at September 30, 2020, the Promissory Notes Outstanding, which are all included in the Domestic Debt Stock, stood at N971.878 Billion.

Related News 

1. External Debt Service Under Control 
2. New Issuance, New Debt Service 
3. External Debt Almost Two-thirds Concessionary 
4. Nigeria's Total Public Debt Stood At N31.01trn in Q2 2020 - NBS 
5. Nigeria's Public Debt Stock Stood At N31.01trn As of June 2020 
6. External Debt Stock Flat in Q1 2020 
7. Q1 2020: Debt Service Settled on a Plateau 
8. Nigeria's Total Public Debt Stood At N28.63trn in Q1 2020 - NBS 
9. Nigeria's Total Public Debt Stood At N27.40trn in Q4 2019 - NBS 
10. Nigeria's Rising Debt Burden and How to Boost Revenue 
11. Nigeria's Total Public Debt Stood At N26.14trn in Q3 2019 - NBS 
12. Nigeria's Total Public Debt Stood At N25.70trn in Q2 2019 - NBS 
13. Nigeria's Total Public Debt Stood At N24.97trn in Q1 2019 - NBS 
14. DMO Releases Q1 2019 Public Debt Data - Marginal Increase of 2.3% in Total Public Debt Recorded 
15. DMO Releases Public Debt Data for December 2018 
16. Nigeria's Total Public Debt Stock Stood At $73.21bn or N22.43trn in Q3 2018 
17. DMO Releases Public Debt Data for June 2018; FGN Domestic Debt Declines 
18. Public Debt Vulnerable to Exchange Rate Movements 
19. DMO Publishes Q1 2018 Debt Data; Total Public Debt Stood At N22.71trn or US$74.28bn 
20. Total Public Debt as at December 31, 2017 Represents 18.20% of Nigeria's GDP for 2017 - DMO 
21. Nigerian Public Debt - A Comparative Analysis