{"id":121902,"date":"2024-06-20T21:21:37","date_gmt":"2024-06-20T20:21:37","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/nigerias-debt-hit-n121tr-in-q1-2024-dmo"},"modified":"2024-06-20T23:31:55","modified_gmt":"2024-06-20T22:31:55","slug":"nigerias-debt-hit-n121tr-in-q1-2024-dmo","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo","title":{"rendered":"Nigeria\u2019s debt hit N121tr in Q1 2024 \u2013 DMO"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>Nigeria\u2019s total public debt has risen by a whopping N24 trillion in the first three months of the year to hit N121.67 trillion.<\/p>\n<p>The Debt Management Office (DMO) revealed this in fresh data released on Thursday.<\/p>\n<p>The figure rose by 24.99 percent from the N97.34 trillion in December 2023.<\/p>\n<p>Nigeria\u2019s public debt profile consists of domestic and external debt stocks of the federal and subnational governments \u2014 the 36 states and the federal capital territory (FCT).<\/p>\n<p>According to the DMO, the debt was pushed up by new domestic borrowing by the federal government to partly fund the deficit in the 2024 budget as well as disbursements by multilateral and bilateral lenders.<\/p>\n<p>\u201cTotal domestic debt was N65.65 trillion (USD46.29 billion) while total external debt was N56.02 trillion (USD42.12 billion).<\/p>\n<p>\u201cExcluding naira exchange rate movements in Q1 2024, only the domestic debt component of total public debt grew from N59.12 trillion on December 31, 2023, to N65.65 trillion on March 31, 2024.<\/p>\n<p>\u201cThe increase was from new borrowing to part-finance the 2024 Budget deficit and securitization of a portion of the N7.3 trillion Ways and Means Advances at the Central Bank of Nigeria.<\/p>\n<p>\u201cWhilst borrowing, as provided in the 2024 Appropriation Act, will continue, we expect improvements in the government\u2019s revenue to enhance debt sustainability,\u201d DMO stated.<\/p>\n<p>The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said on June 13 that the World Bank had approved two major \u201cfinancial support packages\u201d valued at $2.25 billion.<\/p>\n<p>In May, the Bureau of Public Enterprises (BPE) said the federal government has secured a $500 million World Bank loan to boost electricity distribution in the country.<\/p>\n<p>Before this, the federal government received $750 million from the World Bank for humanitarian and social reforms and $1.5 billion for its economic stabilisation plan.<\/p>\n<p>By: Babajide OkeowoBalanced, fearless journalism driven by data comes at huge financial costs.<\/p>\n<p>As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.<\/p>\n<p>If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.<\/p>\n<p>Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.<\/p>\n<p><strong>For More News And Analysis About Nigeria Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. Nigeria\u2019s total public debt has risen by a whopping N24 trillion in the first three months of the year to hit N121.67 trillion. The Debt Management Office (DMO) revealed this in fresh data released on Thursday. The figure rose by 24.99 percent from the N97.34 trillion in December 2023. Nigeria\u2019s public debt [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":121900,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[2321,254,13839],"class_list":["post-121902","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-dmo","tag-nigeria","tag-nigerias-debt-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Nigeria\u2019s debt hit N121tr in Q1 2024 \u2013 DMO - Nigeria<\/title>\n<meta name=\"description\" content=\"Nigeria\u2019s total public debt has risen by a whopping N24 trillion in the first three months of the year to hit N121.67 tr ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria\u2019s debt hit N121tr in Q1 2024 \u2013 DMO\" \/>\n<meta property=\"og:description\" content=\"Nigeria\u2019s total public debt has risen by a whopping N24 trillion in the first three months of the year to hit N121.67 tr ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-20T20:21:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-20T22:31:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/06\/sm_1718906216.209367.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"420\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Nigeria\u2019s debt hit N121tr in Q1 2024 \u2013 DMO\",\"datePublished\":\"2024-06-20T20:21:37+00:00\",\"dateModified\":\"2024-06-20T22:31:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo\"},\"wordCount\":386,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/06\/sm_1718906216.209367.jpg\",\"keywords\":[\"DMO\",\"Nigeria\",\"Nigeria\u2019s debt\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo\",\"name\":\"Nigeria\u2019s debt hit N121tr in Q1 2024 \u2013 DMO - Nigeria\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/06\/sm_1718906216.209367.jpg\",\"datePublished\":\"2024-06-20T20:21:37+00:00\",\"dateModified\":\"2024-06-20T22:31:55+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"Nigeria\u2019s total public debt has risen by a whopping N24 trillion in the first three months of the year to hit N121.67 tr ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/06\/sm_1718906216.209367.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/06\/sm_1718906216.209367.jpg\",\"width\":720,\"height\":420,\"caption\":\"Nigeria\u2019s debt hit N121tr in Q1 2024 \u2013 DMO\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/nigeria\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Nigeria\u2019s debt hit N121tr in Q1 2024 \u2013 DMO\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#website\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/\",\"name\":\"Africa Press | Nigeria | Homepage\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/nigeria\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/author\/cfeditoren\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Nigeria\u2019s debt hit N121tr in Q1 2024 \u2013 DMO - Nigeria","description":"Nigeria\u2019s total public debt has risen by a whopping N24 trillion in the first three months of the year to hit N121.67 tr ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo","og_locale":"en_US","og_type":"article","og_title":"Nigeria\u2019s debt hit N121tr in Q1 2024 \u2013 DMO","og_description":"Nigeria\u2019s total public debt has risen by a whopping N24 trillion in the first three months of the year to hit N121.67 tr ...","og_url":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo","og_site_name":"Nigeria","article_published_time":"2024-06-20T20:21:37+00:00","article_modified_time":"2024-06-20T22:31:55+00:00","og_image":[{"width":720,"height":420,"url":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/06\/sm_1718906216.209367.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Nigeria\u2019s debt hit N121tr in Q1 2024 \u2013 DMO","datePublished":"2024-06-20T20:21:37+00:00","dateModified":"2024-06-20T22:31:55+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo"},"wordCount":386,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/06\/sm_1718906216.209367.jpg","keywords":["DMO","Nigeria","Nigeria\u2019s debt"],"articleSection":["all news","Economy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo","url":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo","name":"Nigeria\u2019s debt hit N121tr in Q1 2024 \u2013 DMO - Nigeria","isPartOf":{"@id":"https:\/\/www.africa-press.net\/nigeria\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/06\/sm_1718906216.209367.jpg","datePublished":"2024-06-20T20:21:37+00:00","dateModified":"2024-06-20T22:31:55+00:00","author":{"@id":"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"Nigeria\u2019s total public debt has risen by a whopping N24 trillion in the first three months of the year to hit N121.67 tr ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo#primaryimage","url":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/06\/sm_1718906216.209367.jpg","contentUrl":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/06\/sm_1718906216.209367.jpg","width":720,"height":420,"caption":"Nigeria\u2019s debt hit N121tr in Q1 2024 \u2013 DMO"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-debt-hit-n121tr-in-q1-2024-dmo#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/nigeria\/"},{"@type":"ListItem","position":2,"name":"Nigeria\u2019s debt hit N121tr in Q1 2024 \u2013 DMO"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/nigeria\/#website","url":"https:\/\/www.africa-press.net\/nigeria\/","name":"Africa Press | Nigeria | Homepage","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/nigeria\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","url":"https:\/\/www.africa-press.net\/nigeria\/author\/cfeditoren"}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/posts\/121902","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/comments?post=121902"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/posts\/121902\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/media\/121900"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/media?parent=121902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/categories?post=121902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/tags?post=121902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}