The International Monetary Fund has urged the incoming government of President-elect, Sen. Bola Tinubu to take steps to increase the country’s revenue base. According to Aisen, to resolve the debt issues of Nigeria you need to concentrate on revenue and expenditure. NAN reports that Nigeria’s total public debt stock as of Dec.31, 2022, stands at N46.25 trillion (103.11 billion dollars). The comparative debt stock for Dec. 31, 2021, is N39.59 trillion (95.77 billion dollars)The DMO said in terms of composition, total domestic debt stock stood at N27.55 trillion (61.42 billion dollars), while total external debt stock was N18.70 trillion (41.69 billion dollars). “The issuance of promissory notes by the federal government to settle some liabilities also contributed to growth in the debt stock,’’ the DMO said.
Source: Punch May 26, 2023 13:56 UTC