Nigerias debt rises to n22 7tn dmo

According to recent reports, Nigeria's debt has risen to N22.7 trillion, as announced by the Debt Management Office (DMO). This is a significant increase from the previous figure of N19.6 trillion.

The breakdown of the debt is as follows:

The DMO attributed the increase in debt to the country's growing need for funds to finance its budget deficit, as well as the need to refinance existing debts.

It's worth noting that Nigeria's debt-to-GDP ratio has also increased, with the country's debt now standing at around 20% of its GDP. This is a concern for many economists and financial experts, who worry that the country's debt levels may become unsustainable if not managed properly.

The government has been criticized for its handling of the country's debt, with some arguing that the country is borrowing too much and not doing enough to reduce its debt burden. Others have called for more transparency and accountability in the management of the country's debt.

What are your thoughts on Nigeria's rising debt levels? Do you think the government is doing enough to manage the country's debt, or do you think more needs to be done?