The Debt Management Office, DMO, has said the total public debt stock of Nigeria as at March was 49.95 trillion naira.
According to a statement from the DMO official website, the total debt stock comprises the external and domestic debts of the Federal Government, the 36 states and the Federal Capital Territory.
The the country’s total debt for the preceeding period 0f Dec. 21, 2022 was N46.25 trillion (103 billion dollars), indicating an increase of about three trillion Naira.
The total debt stock, however, excludes the Federal Government’s N22.719 trillion Ways and Means Advances of the Central Bank of Nigeria, CBN, whose securitisation was approved by the National Assembly in May.
According to the DMO, the Ways and Means will be included in the debt stock of the Federal Government from June.
Meanwhile, the DMO recently released the Market Access Country-Debt Sustainability Analysis (MAC-DSA) to promote transparency.
The MAC-DSA is a World Bank/IMF tool for best practices in public debt management, which the DMO adopted and has implemented over the years.
According to the DMO, it is an annual exercise anchored by it, with the participation of key Federal Government agencies.
