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NIGERIA’S DEBT-SERVICING BILL INCREASED BY 109% IN THE FIRST QUARTER OF 2022

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Nigeria’s debt-servicing bill has increased by 109 percent to N896.56bn in the first quarter of 2022, that’s according to the latest report from the Debt Management Office.

The DMO in its report disclosed that the country has also spent N3.83tn on debt servicing payments in 15 months.

According to the DMO between October and December 2021, Nigeria spent about N310.5bn on domestic debt servicing, while it spent $286.35m (amounting to N118.9bn) on external debt servicing, giving a total of N429.4bn in the last quarter of 2021

Nigeria’s debt-servicing bill has increased by 109 percent to N896.56bn in the first quarter of 2022, that’s according to the latest report from the Debt Management Office.

The DMO in its report disclosed that the country has also spent N3.83tn on debt servicing payments in 15 months.

According to the DMO between October and December 2021, Nigeria spent about N310.5bn on domestic debt servicing, while it spent $286.35m (amounting to N118.9bn) on external debt servicing, giving a total of N429.4bn in the last quarter of 2021

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