Is Nigeria Going Broke? National Debt Rises To N10.8 Trillion.

The total debt of the Federal Government, the 36 states of the federation and the Federal Capital Territory rose from N8.32tn on September 30, 2013 to N10.84tn on September 30, 2014.

This means that the nation's total debt stock rose by N2.52tn or 30.29 per cent within one year period.

Statistics obtained from the website of the Debt Management Office in Abuja on Monday indicated that the N8.32tn did not include the domestic debt of the states in 2013.

Details of the current debt status of the country showed that the external debts of both the federal and state governments stood at $9.52bn or N1.48tn.

As of September 30, the domestic debt stock of ...Read More http://talkafrica.co/ng/p/5994/going-broke-nigeria-national-debt-rises-to-n10-8-trillion
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