Nigeria’s debt stock rises to N33.11tn

Nigeria’s total public debt increased to N33.11 trillion at the end of the first quarter of this year from N32.92 trillion in December, the Debt Management Office said on Wednesday.

The DMO data showed that the country’s domestic debt rose to N20.64 trillion as of Mar. 31, 2021 from N20.21 trillion on Dec. 31, 2020 while the external debt fell to N12.47 trillion ($32.86 billion) from N12.71 trillion ($33.348 billion) in December.

The external debt stock declined as a result of the redemption by Nigeria of $500 million Eurobond in January 2021, the debt office said.