In line with its practice, the Debt Management Office (DMO) has published Nigeria’s total public debt as at September 30, 2021, totaling N38.005 trillion (about USD92.626 billion..
The figures comprised the total external and domestic debts of the Federal Government of Nigeria (FGN), 36 State Governments and the Federal Capital Territory (FCT)
The DMO attributed the increase of N2.540 trillion when compared to the corresponding figure of N35.465 trillion at the end of Q2, 2021 largely to the USD4 billion Eurobonds issued by the Government in September 2021.
The issuance of the USD4 billion Eurobonds has brought significant benefits to the economy by increasing the level of Nigeria’s External Reserves, thereby supporting the Naira Exchange Rate and providing necessary capital to enable the Federal Government finance various projects in the Budget.
The triple tranche USD4 billion Eurobond, issued in September 2021, was for the implementation of the New External Borrowing of USD6.18 billion in the 2021 Appropriation Act.
