Tag: DMO

Nigeria’s debt profile hits N31trn, says DMO

Ishaku Yohanna

Nigeria’s debt profile increased by N2.38trn between March and June 2020, the Debt Management Office (DMO) has revealed. It said Nigeria’s total public debt stock as of June 30, 2020 stood at N31trn. Nigeria’s total public debt stock includes the debt stock of the Federal Government, the 36 states, and the Federal Capital Territory. For public debt stock as of June 30, 2020, the DMO said: “The data shows that in naira terms, the total public debt stock which comprises the debt stock of the Federal Government, the 36 state…

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Reject non-viable loan requests, Atiku tells N’Assembly

Ishaku Yohanna

Former Vice-President of Nigeria, Atiku Abubakar has asked the National Assembly to reject the approval of any new loan request meant for “projects that are not viable.” Atiku said that he cannot sit and watch the government of President Muhammadu Buhari squander the future of Nigerian Youth as well as generations yet unborn with loans that are not income-generating or production-based. Atiku stated this in a letter to the Senate President, Ahmad Lawan. In the letter, the former Vice-President said Nigeria risks insolvency if it continues to borrow money, alleging…

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