The Debt Management Office has said   that the Nigeria’s total debt stock has grown to a total of Twelve point One Two Trillion Naira. The organization stated this yesterday

The Debt Management Office said that the domestic debt stock of the Federal Government as of thirtieth June stood at Eight point Three Nine Trillion Naira. The organization explains that the first quarter of the year show that the country’s total debt stock stood at twelve points zero six trillion.  

The DMO also explains that the external sector, multilateral donors accounted for seventy point eleven per cent of the country’s external debt, while bilateral sources accounted for fifteen point thirty five per cent. Commercial debts accounted for fourteen point fifty four per cent of the nation’s external debt.

 The DMO  further stated that given the nation’s dwindling resources as a result of falling oil prices, shows that there is an indication that borrowing will continue to play a major role in the funding of both the federal and state governments.