The Debt Management Office (DMO) has disclosed that Nigeria’s total public debt (domestic and external) currently stands at N6.1 trillion.
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?The Director General of DMO Dr. Abraham Nwankwo made this known yesterday at the commencement of training for Nigeria’s first set of medium term debt strategy experts in Abuja.
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The debt rate still remains the same compared with the figure the office released last month.
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Nwankwo said the N6.1 trillion public debt stock represents about 19.6 per cent of the nation’s Gross Domestic Product (GDP), he described the debt stock as sustainable.
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The DMO boss noted that “even though the total debt stock has been growing over the past five years, the debt to GDP ratio has remained almost stable below 20 per cent and that’s because you cannot talk of debt sustainability except in relation to the GDP.”?