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Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO - Politics - Nairaland

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NBS: Nigeria’s Total Public Debt Increased By ₦2.4 Trillion In Q2 2020 / Nigeria Owes N25.7 Trillion – DMO / NBS Says Nigeria's Total Public Debt Stood At N25.70trn In Q2 2019 (2) (3) (4)

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Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by BrandSpurNG: 7:01am On Jun 11
According to Debt Management Office (DMO), Nigeria’s total public debt stock jumped year on year (y-o-y) by 15.64% to N33.11 trillion as at March 2021 (from N28.63 trillion as at March 2020).
The y-o-y increase in the country’s total public debt stock was chiefly due to a 24.86% rise in external debt to N12.47 trillion (or USD32.86 billion at N379.50/USD) as at March 2021 from N9.99 trillion (or USD27.67 billion at N361.00/USD) in March 2020.

Within a year, Nigeria received USD3.48 billion worth of loans from International Monetary Fund. Also, additional loan of USD1.43 billion was gotten from IDA. More so, the depreciation of the Naira against the greenback exacerbated external debt; y-o-y, Naira depreciated against the USD by 5.10% to close at N379.50/USD as at March 2021.

In the quarter under review, Nigeria paid part of its Multilateral (USD81.05 million), Bilateral (USD61.38 million) and Commercial loans (USD500 million) which amounted to USD642 million.

Hence, external debt service payments fell to N126.02 billion (or USD332.07 million) in Q1 2021 from N170.60 billion (or USD472.57 million) printed in Q1 2020. Further breakdown of the total external debt stock in Q1 2021, showed that Multilateral loans accounted for 54.26% (USD17.83 billion) of which loans from International Development Association (IDA) was USD11.09 billion, loan from IMF was USD3.48 billion while others stood at USD3.26 billion.

Bilateral loan accounted for 12.73% (USD4.18 billion) of which loan from China (Exim Bank of China) was USD3.40 billion and loan from France was USD0.49 billion in Q1 2021. Commercial loans accounted for 32.47% (USD10.66 billion) of which Eurobonds was USD10.37 billion while Diasporal bond was USD0.30 billion. Local debt stock increased by 10.71% to N20.64 trillion in Q1 2021 (from N18.64 trillion in Q1 2020).

Breakdown of the domestic debt figure showed that FG’s domestic debt stock rose to N16.51 trillion in Q1 2021 (from N14.53 trillion in Q1 2020). Despite the significant rise in FG’s domestic loan, local debt service payment increased marginally by 0.59% to N612 billion in Q1 2021 from N609.13 billion recorded in Q1 2020 amid relatively low rate.

We expect Nigeria’s local debt and the annualized implicit interest rate (8.92%) to increase in 2021 given the President’s request to the National Assembly to approve N2.34 trillion new capital raising.
Also, the rising domestic interest rate environment witnessed in recent times will further exert upward pressure on debt service. Meanwhile as Nigeria turns to IMF for more loans, it may have to lean more on market-driven exchange rate policy – which may further have a pass-through effect on inflation rate.


https://brandspurng.com/2021/06/10/nigerias-public-debt-15-64-n33trn-dmo/

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by money121(m): 7:02am On Jun 11
All is well

God no go shame Us




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1 Like 1 Share

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Xscape1993(m): 7:03am On Jun 11
And some analog youths here will still support their president. I pity some of the youths here. Tribal, religion & party affiliation sentiment have blinded your eyes so badly that you don't even know the functions of the president. What a country rule by unfortunate people!

75 Likes 6 Shares

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by inoki247: 7:03am On Jun 11
Las Las this people will goan borrow from LAPO....

After dat dem go Auction the country....

11 Likes

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Eazi1(m): 7:05am On Jun 11
This man should kuku post NIGERIA FOR SELL

8 Likes

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Thegracefulness: 7:11am On Jun 11
Mark this comment for the ones that in 2022 would say that Professor Yemi Osinbajo had his hands tied and could not do anything to alleviate the condition of the economy. Take note because they’re the same ones that joined him to peddle the rhetoric that “He would handle the economy as a professor, while General Buhari would handle the security.”

Béene! Take a look at how people are suffering. And a certain group of persons are hellbent on dismissing your fears. Your cries. Because to them, it’s all about tribes or party affiliation.

These men should stop trying because they have failed. Else this suffering would come to everybody. PDP OR APC. Small business or Large. Patronage would drop. Obviously, this is not a prediction or curse. It’s a telling analysis. By the time the people that patronise your main customers cannot afford to feed again, or buy those not-very essential items, how do you think money would circulate?

If we don’t nip this one in the bud, very soon in this country, people would only trade food and water. Nobody would consider paying transport or buying clothes as essential services.

Landed properties for sale in Igbo-Etche, Port Harcourt. With legal documents.

24 Likes 1 Share

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by MansoryMX(m): 7:11am On Jun 11
Watch how BMC will avoid this thread like plague. Buhari is bliss of failure, a monumental disaster even to his own people in Kastina State! North wants to make sure this country don’t divide because they know this debt will be incurred by them!

13 Likes 2 Shares

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Okortor: 7:11am On Jun 11
Debt keeps rising. Yet we have a president and finance minister?
We Just dey start..those voted this government, should enjoy the hardship.... while it last.
Sai baba till 2023.

2 Likes

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Strongbest(m): 7:11am On Jun 11
angry angry

I think there's something fundamentally wrong with this government as a whole. Something isn't just in order.

Please, let's call a spade a spade here; nothing is working everything just getting worse and they aren't accepting the fact.

The only thing I see this government doing very well aND very good at, is propaganda, covering up, giving excuses, defending failures and shutting down any voice that cries against them......the truth must be told, this government has lost it.

Tell me if you are not feeling the heat please, there are just so much abnormalities going on in this country.

11 Likes

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by ayo2008: 7:12am On Jun 11
So sad
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Antoeni(m): 7:12am On Jun 11
It’s well

16 Likes

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Samanza89: 7:12am On Jun 11
In 50years Nigeria ain't paying this debt and it will keep rising like Ijebu garri as far as Buhari is involve. Bubu won't kill us.

4 Likes

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by NotKnown: 7:12am On Jun 11
It's really well
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by saheedbadmus(m): 7:12am On Jun 11
Olorun maje kaku si oko gbese...may not allow us die inside debt o ah..na wao ...
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by brosom(m): 7:12am On Jun 11
Wetin e no remain fro this country make e jump?

Even future generations to come are jumping out of graph in protest not to be born in Nigeria

Una never see anything..

3 Likes

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by risos(m): 7:12am On Jun 11
The figure is small. There's no problem, after all no be igr dem dey use service the debt, other countries are more indebted than this.

The only problem here is the nations that lend Nigeria the money are the same nations that collect the money back in the name of contract.
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by chymes0359(m): 7:12am On Jun 11
Plan B loading!

Na to japa!

3 Likes

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Kentuforchrist(m): 7:12am On Jun 11
Lol
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Vulcanheph(m): 7:13am On Jun 11
All Thanks to Buhari.... The mere fact that Zombies avoid threads like this is a proof that they know what they're doing.

13 Likes

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by 1zynnvn(m): 7:13am On Jun 11
damn if I could bet on Nigeria to keep getting worse, ill be very rich right now, Debt isn't necessarily bad, but how they handle it.
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by darlenese(f): 7:13am On Jun 11
High jump hehehehe cheesy
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by princegeo(m): 7:13am On Jun 11
A country that is running on such depth, is heading for a crash.. let's save the future from these old fools

for tribalism and ethnicity

1 Like

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by LaSenior: 7:13am On Jun 11
grin

Keep borrowing to consume

Naira is having a free fall

Minister of finance nowhere to be found this one don pass her power because she's a product of quota system
Vice President nko and his economic team are just there for formalities

I know that PDP is bad but what we are having is worst and anybody who doesn't see that APC is worst is a paid zombie ,

This days nairaland is becoming so annoying because of some brain dead fellows who comes here to defend a proven evil and anti people government.

If you defend evil may that evil you are defending consume you because you are not a human being with feelings rather you are a zombie .

My happiness is that one mumu man for my street wey really dey support buhari then don relocate go village after he don sale his car for city .
Check all these people supporting buhari they're in deep suffering and gnashing of teeth compared to the good people of Nigeria who condemned this evil government,

If you see a zombie doing their dirty and shameless work here on nairaland don quote them stop making them popular pls don't argue with them

7 Likes

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by InaNla(f): 7:15am On Jun 11
Ok
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by DamnnNiggarr(m): 7:15am On Jun 11
shocked
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by noobs123: 7:15am On Jun 11
As things are going, naira could get to #2000 to 1$

2 Likes

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by UstazAhmed(m): 7:16am On Jun 11
These debts are not embezzled unlike when the south was in power. They are being judiciously used for infrastructures.

Enough of these wailings. Buhari is the best leader ever in Nigeria
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by SKYHIGHfx: 7:16am On Jun 11
You won't find mannabbgrills and helinus here ever since bubu shoot Tinubu directly at the heart Tinubu advocate has gone mute

1 Like

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by obembet(f): 7:17am On Jun 11
Buhari deserve another tenure
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by zeusdgrt(m): 7:19am On Jun 11
Normal negative news at all sides from this govt,but for us we going up everyday grin

1 Like

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