Nigeria’s total loan to hit ₦38.6trn by dec 2021

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said Nigeria’s total public debt will hit N38tn by December 2021.

Ahmed said this in her presentation to the Senate Committee on Local and Foreign Debts. “The total public debt stock comprising the external and home debts of the federal and state governments and the Federal Capital Territory stood at N31.01tn ($85.90bn) as of June 30, 2020,” she said. “It is projected, based on existing approval, to rise to N32.51tn by December 31, 2020 and N38.68tn by December 31, 2021.”

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