Nigeria’s debt profile rose to over N44 trillion under Mr Buhari’s watch in September.
As of September 30, 2022, Nigeria’s total debt stock rose N44.06 trillion as against N42.84 trillion recorded on June 30, the DMO stated.
The Debt Management Office (DMO) has announced its December issuance of two savings bonds at N1,000 per unit.
The debt servicing bill increased by 109 per cent between December 2021 and March 2022, rising from N429 billion to N896 billion.
President Muhammadu Buhari’s regime says it expects to generate about N720 billion in the third quarter of 2022 from FGN bonds.
The Debt Management Office (DMO) says Nigerians should invest in the federal government’s securities.
“The issue of debt has become topical in Nigeria that sometimes it almost looks as if borrowing is an offence or a crime,” said Ms Oniha.
The DMO had earlier revealed that the country’s debt stock as of September 2021, was N38 trillion.
Investors need only N5,000 to subscribe, while the maximum amount for subscription is N50 million.
“The auction recorded an over-subscription of N111 billion and N214 billion for the January 2026 and January 2042 bond offers respectively.”
