No Gas Shortage in December – NNPCL

The Debt Management Office (DMO) reports that domestic debt caused Nigeria’s total public debt stock to rise from N41.60 billion in March 2022 to N42.84 billion in June of the same year. , posting an increase of 1.24 billion naira in three months.
A press release published on the DMO website on Monday indicates that the stock of domestic and external debt of the federal and state governments fell from 41.60 tn in March to 42.84 tn in June 2022.
“The total outstanding public debt, representing the outstanding domestic and external debt of the Federal Government of Nigeria, the 36 state governments and the Federal Capital Territory, was N42.84 billion (103. $31 billion) as of June 30, 2022. The comparative figure for March 30, 2022, was 41.60 billion naira ($100.07 billion),” the statement said.
The DMO said the federal government was unable to secure foreign loans in the second quarter of 2022, noting that external debt remained the same at 16.61 billion naira ($40.06 billion) from the first to the second quarter of 2022.
He further stated that 58% of external debt was concessional and semi-concessional loans from multilateral lenders such as the World Bank, International Monetary Fund, Afrexim, African Development Bank and bilateral lenders including Germany. , China, Japan, India and France.
He added that the domestic debt rose to 26.23 billion naira ($63.24 billion) due to new government borrowing to partly fund the deficit of the Appropriations (Repeal and Enactment) Act 2022. , as well as new borrowing by state governments and the FCT.
Total public debt to GDP as of June 30, 2022, the DMO continued, was 23.06% compared to the ratio of 23.27% as of March 36, 2022, adding that the debt service-to-revenue ratio remained high. .

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