FG’s debt servicing jumps to $101m – CBN

NIGERIA’S monthly debt service rose by $31.46m in one month to $101.29m in January, figures obtained from the Central Bank of Nigeria have revealed.

This indicates a 45 per cent increase month-on-month.

The CBN disclosed in its data on debt service repayment that the government spent $69.83m on debt service repayment in December.

The data also showed that the government spent $148.57m and $85.23 on debt service repayment in November and October 2021 respectively.

The Debt Management Office had disclosed that Nigeria’s outstanding debt stood at N39.57tn or $95.78bn as of the end of December 2021.

It added that total external debt gulped 40.08 per cent, totalling N15.86tn or $38.39bn in the period under review.

The total public debt rose from N27.4tn or $80.05bn as of the end of December 2019 to N32.92tn or $86.4bn as of the end of December 2021


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.