September 11, 2020/Cowry Asset Report

In the just concluded week, total debt figure released by the Debt Management Office (DMO) showed that Nigeria’s total public debt stock for the second quarter of 2020 increased by 8.31% to N31.01 trillion as at June 2020 (from N28.63 trillion as at March 2020).

The increase in the country’s total debt stock was chiefly due to a rise in external debt stock by 13.78% to N11.36 trillion (or USD31.48 billion at N361.00/USD) as at June 2020 from N9.99 trillion (or USD27.67 billion at N361.00/USD) in March 2020 – Nigeria received additional USD3.36 billion worth of loan from International Monetary Fund (IMF) in Q2

Click here to read full PDF copy of report