Nigeria’s total public debt, according to the country’s Debt Management Office, rose to N87.38tn at the end of the second quarter of this year. Data from the DMO further shows that Nigeria’s total domestic debt is N54.13tn, while its total external debt is N33.25tn. The domestic debt makes up 61.95 per cent of the total debt, while the external makes up 38.05 per cent. “In the domestic distribution of petroleum products, we’ve lost all the pipelines. “Many of them cannot even pump up to 3km, while these are pipelines that are supposed to supply petroleum products to between 400 and 500km.

Source: Punch October 15, 2023 18:51 UTC