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Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months - Politics - Nairaland

Nairaland ForumNairaland GeneralPoliticsNigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months (5808 Views)

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Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by treesun(op): 7:26pm On Jun 20, 2024
The Debt Management Office (DMO) of Nigeria has announced that the nation’s total public debt has increased significantly to N121.67 trillion (approximately $91.46 billion) as of March 31, 2024.

According to a statement from the DMO, this figure encompasses the combined domestic and external debts of the Federal Government of Nigeria (FGN), the thirty-six state governments, and the Federal Capital Territory (FCT).

In comparison, the total public debt as of December 31, 2023, stood at N97.34 trillion (approximately $108.23 billion). This represents a substantial increase of N24.33 trillion or 24.99% within a three-month period.


The increase is driven majorly by naira devaluation, as the total debt is reduced in dollar terms.

The breakdown of the total debt as of March 31, 2024, shows that the domestic debt component was N65.65 trillion (approximately $46.29 billion), while the external debt component amounted to N56.02 trillion (approximately $42.12 billion).
https://nairametrics.com/2024/06/20/nigerias-public-debt-rises-by-n24-33-trillion-in-three-months/

Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by Bentacur007: 7:28pm On Jun 20, 2024
😂😂😂😂

We have some c l o w n s that will com and defend it
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by NwaNimo1(m): 7:29pm On Jun 20, 2024
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by helinues: 7:46pm On Jun 20, 2024
Toh
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by CrushObituaries: 7:47pm On Jun 20, 2024
Thank
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by Prigidypogodo(f): 7:49pm On Jun 20, 2024
cheesy
There's are things I learnt about Nigeria after 2023 election.

1. Nigeria will NEVER be better again as a united entity.
This not sentiments but fact.
Whoever told me that some people will still choose a party and someone that was fully involved in Buhari 8 years of total nightmare just because of tribe I'll never believe it.
All he did was to tell them that it's his turn, no manifesto, no debate not even a proper campaign rather than an owambe in the name of campaign.

2. Some people will rather see Nigeria burn and suffer rather than seeing someone with a clear cut plan shape things back.

Trust me any person telling you to pray for Nigeria is nothing but a fraudster.
Just like we now see Buhari days as good old days a time will come when we'll see this present suffering as good old days.
Thank God nobody buys things cheaper because his tribesmen is in power or because he's a member of APC.
We'll all see wetin we do to ourselves in due time.
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by nedu666: 8:04pm On Jun 20, 2024
Gdp 250 billion dollars
Debt 91 billion dollars
Gradually debt will be half of gdp then overtake gdp
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by oga028315:
Oya, Come and blame Peter Obi, Nnamdi Kanu, IPOB, sit at home and the entire south east...

Gbajue Economics by a Gbajue President to his supporters.
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by iwaeda: 8:34pm On Jun 20, 2024
treesun:
The Debt Management Office (DMO) of Nigeria has announced that the nation’s total public debt has increased significantly to N121.67 trillion (approximately $91.46 billion) as of March 31, 2024.

According to a statement from the DMO, this figure encompasses the combined domestic and external debts of the Federal Government of Nigeria (FGN), the thirty-six state governments, and the Federal Capital Territory (FCT).

In comparison, the total public debt as of December 31, 2023, stood at N97.34 trillion (approximately $108.23 billion). This represents a substantial increase of N24.33 trillion or 24.99% within a three-month period.


The increase is driven majorly by naira devaluation, as the total debt is reduced in dollar terms.

The breakdown of the total debt as of March 31, 2024, shows that the domestic debt component was N65.65 trillion (approximately $46.29 billion), while the external debt component amounted to N56.02 trillion (approximately $42.12 billion).





This is a developing story…

https://nairametrics.com/2024/06/20/nigerias-public-debt-rises-by-n24-33-trillion-in-three-months/
The builder of Lagos, throwing the whole nation into monumental debts just in a year, but people that don't want Nigeria to be free are supporting their own slavery. Nlfpmod, they are only ruling by propaganda. Travel through from cities to cities, check the roads. grin grin grin grin grin grin grin grin grin grin angry grin angry
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by mrvitalis(m): 8:42pm On Jun 20, 2024
nedu666:
Gdp 250 billion dollars
Debt 91 billion dollars
Gradually debt will be half of gdp then overtake gdp
You beat me to it but bro that 250 GDP was calculated at 1100 to a dollar so it's less

Or debt to GDP ratio now is close if not more than 50% if Tinubu does 4 years expect it to be 70% plus

At that point is bankruptcy straight up

Obi was right 2023 was the last chance to save Nigeria and we failed
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by slivertongue: 8:45pm On Jun 20, 2024
Tinubu has shown that he is incompetent
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by Racoon(m): 8:47pm On Jun 20, 2024
Uselessness of the most useless. Tinubu should know that his advent to power was not genuine hence his stint will continue to be plagued. Nigeria has never has it this bad from every sector of its national life.
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by mrvitalis(m): 8:55pm On Jun 20, 2024
People don't know the danger APC is putting us in right now

Tarrrifs, increase in tax, mass retrenchment na you and me go finally pay this loan

Na to liquidate my asset go buy cheap house near London abeg
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by treesun(op): 9:09pm On Jun 20, 2024
Just three months, Nlfpmod!
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by treesun(op): 9:10pm On Jun 20, 2024
iwaeda:
The builder of Lagos, throwing the whole nation into monumental debts just in a year, but people that don't want Nigeria to be free are supporting their own slavery. Nlfpmod, they are only ruling by propaganda. Travel through from cities to cities, check the roads. grin grin grin grin grin grin grin grin grin grin angry grin angry
Nigeria is in serious case hole!
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by iwaeda: 9:13pm On Jun 20, 2024
treesun:
Nigeria is in serious case hole!
cry cry cry
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by treesun(op): 9:28pm On Jun 20, 2024
iwaeda:
cry cry cry
Not a joking matter, be serious!
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by iwaeda: 10:19pm On Jun 20, 2024
treesun:
Not a joking matter, be serious!
I have heard bros. cry cry cry cry cry
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by Parydelegate: 6:36am On Jun 21, 2024
Raise am...raise am
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by Yankee101: 6:36am On Jun 21, 2024
Remove Tinubu early
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by udemzeus(m): 6:37am On Jun 21, 2024
24 Billion USD in dollars, this Money could startup about 50k SMEs with 5k USD each, build hospitals, schools across each local government or at least add some megawatts to our power grids.
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by cjudy(m): 6:39am On Jun 21, 2024
helinues:
Toh
Zone B

Guess you’re short of words?

You have nothing to say anymore. These are the people you Zone B keep supporting and clapping whenever they speak.

Una no get shame
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by RepoMan007: 6:41am On Jun 21, 2024
What on earth are we doing with so much trillions if not Lagos-Calabar corporate fraud?
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by Mindlog: 6:41am On Jun 21, 2024
Imagining what the debt profile will be at 2027! angry
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by ogododo: 6:41am On Jun 21, 2024
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by victorVIC1(m): 6:43am On Jun 21, 2024
Nigeria is literally trading its future for the enrichment of some privileged few. I just can't wait to move my kids out of that country. All the news wey I dey see just dey irritate me
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by DMerciful(m): 6:43am On Jun 21, 2024
When you handover the management of your country's resources to a criminal drug baron, this is what you get.

Tinubu has wrecked Nigeria.

South Westerners are responsible!
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by Chiefpriestt: 6:45am On Jun 21, 2024
Tinubu is a destroyer. He will be remembered as the man who buried Nigerian economy completely
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by Villagesquare: 6:51am On Jun 21, 2024
Two tribes have failed Nigerians, only the people from the Land of the rising sun can save Nigeria.
Re: Nigeria’s Public Debt Rises By ₦‎24.33 Trillion In Three Months by Dbegining: 6:51am On Jun 21, 2024
These are the issues. This man is borrowing with reckless abandon.

I think schools should just change the spelling of failure to Tinubu.
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