F𝐄𝐃𝐄𝐑𝐀𝐋 𝐆𝐎𝐕𝐄𝐑𝐍𝐌𝐄𝐍𝐓 𝐎F 𝐍𝐈𝐆𝐄𝐑𝐈𝐀: 𝐃𝐎𝐌𝐄𝐒𝐓𝐈𝐂 𝐃𝐄𝐁𝐓 𝐒𝐓𝐎𝐂𝐊, F𝐔𝐄𝐋 𝐏𝐑𝐈𝐂𝐄 𝐀𝐍𝐃 𝐂𝐑𝐔𝐃𝐄 𝐎𝐈𝐋 𝐄𝐀𝐑𝐍𝐈𝐍𝐆𝐒 F𝐑𝐎𝐌 𝐌𝐀𝐘 𝟑𝟎, 𝟐𝟎𝟏𝟓 𝐓𝐎 𝐃𝐄𝐂𝐄𝐌𝐁𝐄𝐑 𝟑𝟏, 𝟐𝟎𝟐𝟒

Nigeria's (FG only) domestic debt as at June 30, 2015 was 8.4 trillion Naira (N8.4trn). Nigeria's (FG only) domestic debt as at June 30, 2023 was 48. 31 trillion Naira (N48.31trn). This amount included N22.7 trillion Ways and Means the Federal Government of Nigeria borrowed from Central Bank of Nigeria largely to subsidize electricity cost. So in essence, the Federal Government domestically borrowed 39.91trillion Naira (N39.91) in eight years, i.e. from July 1, 2015 to June 30, 2023. This translated to an average yearly domestic borrowing of 4.99 trillion Naira (N4.99trn) in the eight years period (July 1, 2015 and June 30, 2023). Nigeria's (FG only) domestic debt as at December 31, 2024 was 70.41 trillion Naira (N70.41trn). This meant that in eighteen months (July 1, 2023 to December 31, 2024), the Federal Government of Nigeria domestically borrowed 22.11 trillion Naira (N22.11trn). This is more than half of the N39.91 trillion Naira (N39.11trn) that the immediate past adm...