WATCH THE VIDEO HERE The Debt Management Office (DMO) reports that the federal government’s domestic debt stock by instrument reached N66.957 trillion by the first half of 2024, marking an 8.74% increase from N61.578 trillion at the end of Q1. The government incurred N5.379 trillion in additional debt locally during Q2 2024 through financial instruments such as FGN Bonds, Nigerian Treasury Bills (NTB), FGN Savings Bonds, and Promissory Notes, facilitated by the DMO and the Central Bank of Nigeria (CBN). As of Q1 2024, FG’s total domestic debt stood at N61.578 trillion, reflecting a 15.62% increase from N53.258 trillion recorded at the end of December 2023. This indicates that the government incurred N8.32 trillion in additional debt within the first three months of the year, highlighting a more aggressive borrowing pattern in Q1 compared to Q2 2024.
Federal government’s domestic debt stock hits N66.957 trillion in H1 2024
