The Federal government has kicked off its plans to increase Nigeria’s debt stock to N46.63tn trillion by end of 2022, IgbereTV reports
Over the weekend, the Debt Management Office (DMO) announced that Nigeria has incurred an additional N950 billion from the domestic debt market in the first three months of 2022.
Patience Oniha, the Director-General of the DMO made this disclosure in a document published on the debt office website.
She also noted that the Federal Government was considering all options to raise funds externally.
She said, “All options for raising funds externally are being considered. These include funding from multilateral and bilateral sources, the International Capital Markets and the $3.35billion Special Drawing Rights allocated by the International Monetary Fund to the Central Bank of Nigeria.”
“The Federal Government still plans to borrow an additional N1.6 trillion, while the 2022 debt target for domestic borrowing is N2.57 trillion
