Nigeria's public debt reached $406 billion in Q3 2024, a 5.97% increase from the previous quarter.

Nigeria's public debt surged to N142.3 trillion ($406 billion) in Q3 2024, up 5.97% from N134.3 trillion in June. The rise is due to increased domestic borrowing and the effect of the weakening naira, which depreciated from N1,470.19/$ to N1,601.03/$. External debt in naira terms rose by 9.22%, while domestic debt increased by 3.10% in naira terms but fell by 5.34% in dollars. The federal government's domestic debt grew from N66.96 trillion to N69.22 trillion.

2 months ago
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