Stella Dimoko Korkus.com: Nigeria’s Total Debt Escalates To N24.4 Trillion

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Friday, April 05, 2019

Nigeria’s Total Debt Escalates To N24.4 Trillion

The nation’s total debt stock escalated in 2018 to N24.387 trillion ($79. 437 billion), about N2.7 trillion or 9.1 per cent higher than the N21.725 trillion recorded at end of 2017. 





Director-General of the Debt Management Office, DMO, Ms. Patience Oniha, disclosed this while briefing newsmen on the national debt profile in Abuja yesterday.


She said that domestic debt accounted for 68.18 percent of the figure which consisted of debts owed by both the federal and state governments. The N24.387 trillion debt stock at the end of 2018 represented a N 2,661trillion or 12.25 per cent increase above the figure of December 31, 2017, which stood at N 21.725 trillion.


The DMO said that the CBN Official Exchange Rate of US$1/N306 as at December 31, 2017 and US$1/ N307.00 as at December 31, 2018 were used for the conversion of External Debt Stock to Naira.

The new borrowings since the current administration came into power were: 2015, N1.457 trillion; 2016, not available; 2017, N2.321 trillion; 2018 N 1. 643 trillion; and 2019 (as proposed) N1.649 trillion.

From Vanguardngr


*FATHER LORD!!!!

21 comments:

  1. Yet they can't for the money, these people are bunch of thieves

    ReplyDelete
  2. This na the debt wey Obj and Okonjo Iwuala cleared?
    Aaa PHeeee Ceee!
    Borrow and share!

    ReplyDelete
    Replies
    1. Hahahaha... Anonymous would you mind sharing from my zobo?

      Delete
    2. @TeeJay
      Dalu o
      I no dey drink zobo, na correct grape wine (non-alcoholic)
      I dey shak.
      Today na zobo you offer because I play ya politrical basketball, tomorrow now, na to
      send thunder to my smooth nyansh.
      Whosai, anytime I see truth I dey yarn am.👀👀😜😜😜

      Delete
  3. SDK the thing reach to shout ooh I am telling you. Lai Mohammed and Femi Adesina will soon come up with the accusations of apportioning the blame on PDP.

    Sometimes I am happy that Buhari came into power in 2015, for if he had not succeeded with his ambition, people would have thought he would have been the Messiah or the best President Nigeria never had.

    Now we have seen it all with Mr 'Integrity'. They should continue deceiving themselves.

    ReplyDelete
    Replies
    1. I saw the headline and I knew I would see this.
      Very predictable.

      Delete
    2. Nucleus or Nicolas abeg swerve. You guys hate the truth.

      Delete
    3. Taju or Teejames, abeg shift. The only truth here is the exchange rate.
      You are blinded by sentiments.
      And you talk as if you and the top politicians of this country sit at the same table.

      Delete
    4. Ok Nick babyyyy, you must be new here or an old anonymous that decided to come up with a new ID. I think I have notice your presence. Don't worry you are already my friend lolz.

      Delete
    5. I am not looking to get noticed and unlike you the blog paparazzo, I rarely jump at every thing political written here.
      I am not your friend.

      Delete
  4. Abeg make the debt escalate to Zillions sef, make the creditors come take over what is left of Nigeria and drive out these beasts ruling and looting us.

    ReplyDelete
  5. Lol its PDP fault. Nigerians wake up

    ReplyDelete
  6. They used our money to do politics. Politics of rigging.
    Now dem don run us dry.
    May God punish all these looters. Kilode, with this debt profile ? Who have we offended with these kind people governing Nigeria?
    From frying pan to fire.

    Holly Ghost fire!!!!
    Oya begin to burn them, one by one!

    ReplyDelete
  7. And what was that the vice president said about lowest debt?

    ReplyDelete
  8. Sai baba! Sai Buhari

    ReplyDelete
  9. Is GEJ that borrowed it oh. Where do this monies go to, the recovered and the borrowed? Cause am yet to see any infrastructure on ground and no salary.

    ReplyDelete
  10. So between 2015 and 2018 Nigeria borrowed the sum of N5.421 trillion.
    Ok... I hope these criminals haven't sold us yet.

    ReplyDelete
  11. And yet nothing to show for it with all the trillions they've borrowed. Poor infrastructure, power sector is almost dead. Nothing seems to work. I just tire for the kind of leaders we have.

    ReplyDelete
  12. Thieves, they will still blame Jonathan and the gullible ones will believe them.

    ReplyDelete

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