National Debt Skyrocket To N27TRN As Nigeria Advances In Borrowing, DMO Reveals

NIGERIA’s public debt will transcend N27 trillion this year activated by expanded Federal Government borrowing to support the 2019 spending plans. The country’s debt stock has been on a relentless and sharp upward pattern since 2011, because of expanded borrowing by the Federal Government and deterioration of the naira.

Information by the Debt Management Office (DMO) demonstrated that the aggregate public debt ascended by 121 percent (from N5.66 trillion of every 2011 to N12.603 trillion of every 2015). Be that as it may, from 2015 it has swelled by 93.6 percent ( from N12.603 to N24.39 trillion) in 2018.