The total debt stock of Nigeria is likely to reach N45 trillion as the Debt Management Office (DMO) plans to borrow an additional N6.39 trillion to finance the 2022 budget deficit.
This is according to a DMO document obtained on Friday.
In the document, DMO director-general Patience Oniha explained that the overall deficit in the 2022 budget was N6.30trillion, representing 3.46 per cent of the country’s Gross Domestic Product (GDP).
The DMO had earlier revealed that the country’s total debt stock as of December 2021 was N39.55 trillion.
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