Business

Public Debt: Nigeria’s largest creditors as of December 2023  

According to data from the Debt Management Office (DMO), the total public debt in Nigeria is an estimated N97.34 trillion ($108.23 billion) as of December 2023.


This figure was an increase of 146% from N39.56 trillion ($95.77 billion) at the end of the previous year.  


The major reason for the significant increase is the addition of CBN’s N20 trillion ($48 billion) in Ways and Means lending to the government and about 60% devaluation of naira.