Nigeria’s total public debt that aggregates both external and domestic debt has ballooned to Twenty- four point Nine- hundred and forty- seven trillion naira (Eighty- one point two hundred and seventy- four billion dollars), according to a statement by
the Debt Management Office (DMO) on Wednesday.
The new figure for March 2019 represents a Two point three per cent increase from the December 2018 figure of Twenty- four point Three hundred and eighty- seven trillion or Seventy- nine point four hundred and thirty- seven billion dollars.
But do not panic that your country is being saddled with debt. The DMO said the Total Public Debt to GDP Ratio was Ninteen point three percent which is within the Twenty- five percent Debt Limit imposed by the Government.