Nigeria owes 46.25 trillion in debt. - DMO According to the Nigerian Debt Management Office, by the month of Dismantlement 2022, the nat...
Nigeria owes 46.25 trillion in debt. - DMO
According to the Nigerian Debt Management Office, by the month of Dismantlement 2022, the nation's debt will total N46.25 trillion.
He said that seven trillion dollars were added to the nation's obligations, according to a statement released by the Office on Thursday.
According to the DMO, the federal and state governments' use of fresh loans to finance large-scale projects and close budget gaps is to blame for the rising level of debt.
According to the office, the government's initiatives to boost revenue from the non-oil and oil sectors will make it possible to complete projects without taking on debt.
Nigerians are still visibly concerned about the nation's debt load.
The nation and the Paris Club came to a debt reduction arrangement in 2005, which allowed the nation to have 18 billion dollars of its debt forgiven.
Samia Suluhu Hassan, the president of Tanzania, characterized the visit as a significant advancement for the nation.
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