President’s administration incurs N5tn domestic debt

The administration of President Goodluck Jonathan has incurred N5.04tn in domestic debt, according to the Debt Management Office (DMO).

As of March 31, 2010, Nigeria’s domestic debt was N3,466,360,000,000 (N3.47tn).

However, the debt statistics as at March 31, 2015 show that the domestic debt   has risen to N8,507,545,474,000 (N8.51tn).

The figure represents a 157.48 per cent increase in the Federal Government’s domestic debt between 2010 and 2015.

The DMO statistics also showed that the domestic debts of the states grew by 116.83 per cent within the same period.