Nigeria’s public debt reached N44.6 trillion in the third quarter of this year (Q3 in 2022). This represents a 2.9 per cent quarter-on-quarter decline when compared to N42.84 trillion recorded in Q2 in 2022.
The Debt Management Office, DMO, disclosed this today in a press statement on its website noting that the increase in public debt was due to new borrowings by the Federal Government to part-finance the deficit in the 2022 Appropriation Act, as well as new borrowings by sub-nationals.
