Connect with us

News

Nation’s total public debt rise to N121.67 trillion, DMO reveals

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

*Lists top 10 Nigerian States with highest domestic debt

By Kayode Sanni-Arewa

The Debt Management Office (DMO) of Nigeria recently announced that the nation’s total public debt increased significantly to N121.67 trillion (approximately $91.46 billion) as of March 31, 2024.

This figure according to the DMO encompasses the combined domestic and external debts of the Federal Government of Nigeria (FGN), the thirty-six state governments, and the Federal Capital Territory (FCT).

Advertisement

In comparison, the total public debt as of December 31, 2023, stood at N97.34 trillion (approximately $108.23 billion). This represents an increase of N24.33 trillion or 24.99% within a three-month period.

The increase is driven majorly by naira devaluation, as the total debt was reduced in dollar terms by $16.77 billion or 18.34%.

Amid concerns over rising debt service costs, states have been working to decrease their debt stock. In Q1 2024, states’ total domestic debt dropped by 31% from N5.86 trillion in Q4 2023 to N4.07 trillion and by 26% from N5.48 trillion in Q1 2023.

Despite the decrease, some states still have high debt stock. Below is the ranking of the top 10 Nigerian states with the highest domestic debt in Q1 2024:

Advertisement

#10 Bauchi

Bauchi’s domestic debt decreased significantly from N144.54 billion in Q1 2023 to N108.39 billion in Q1 2024, representing a 25.01% decrease. Additionally, there was a decrease from N160.81 billion in Q4 2023, a 32.62% decrease.

#9 Abia

Abia experienced an increase in domestic debt from N99.54 billion in Q1 2023 to N113.71 billion in Q1 2024, reflecting a 14.22% increase. However, from Q4 2023 to Q1 2024, there was a decrease of 17.99% from N138.64 billion.

Advertisement

#8 Benue

Benue’s debt reduced from N141.29 billion in Q1 2023 to N116.73 billion in Q1 2024, a 17.38% decrease. Compared to Q4 2023, which had N187.18 billion, there was a decrease of 37.62%.

#7 Akwa Ibom

Akwa Ibom’s domestic debt decreased from N206.64 billion in Q1 2023 to N142.93 billion in Q1 2024, which is a 30.83% decrease. From Q4 2023 to Q1 2024, the debt also decreased from N190.48 billion by 24.96%.

Advertisement

#6 Cross River

Cross River’s debt decreased from N196.27 billion in Q1 2023 to N156.17 billion in Q1 2024, showing a 20.42% decrease. From Q4 2023 to Q1 2024, there was a decrease from N220.20 billion by 29.08%.

#5 Imo

Imo saw a decrease in domestic debt from N202.55 billion in Q1 2023 to N163.06 billion in Q1 2024, which is a 19.53% decrease. The decrease from Q4 2023’s N217.11 was 24.89%.

Advertisement

#4 Ogun

Ogun’s debt decreased from N293.20 billion in Q1 2023 to N221.22 billion in Q1 2024, reflecting a 24.55% decrease. Compared to Q4 2023, which had N278.68 billion, there was a 20.62% decrease.

#3 Rivers

Rivers remained constant at N232.58 billion from Q4 2023 to Q1 2024. However, there was a slight increase from N225.51 billion in Q1 2023 by 3.14%. The DMO in its latest debt report noted that the domestic debt stock figure for Rivers State was as of March 31, 2023.

Advertisement

#2 Delta

Delta’s domestic debt decreased from N421.78 billion in Q1 2023 to N334.90 billion in Q1 2024, a 20.62% decrease. From Q4 2023 to Q1 2024, the debt also decreased from N373.41 billion by 10.31%.

#1 Lagos

Lagos, with the highest domestic debt, saw an increase from N812.38 billion in Q1 2023 to N929.41 billion in Q1 2024, which is a 14.41% increase. However, there was a decrease from Q4 2023’s N1.05 trillion by 11.38%.

Advertisement
Continue Reading
Advertisement
Click to comment

Warning: Undefined variable $user_ID in /home/naijuinz/public_html/wp-content/themes/zox-news/comments.php on line 49

You must be logged in to post a comment Login

Leave a Reply

News

Tinubu condemns death of retired general Rabe in kidnappers’ custody

Published

on

By

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

President Bola Tinubu has expressed deep sorrow over the death of retired Major-General Rabe Abubakar, who was reportedly abducted by armed criminals in Katsina State and later died while still in their custody.

According to a State House statement issued on Saturday, the president said he received the news of the former military officer’s death with “shock and sadness,” describing the incident as a tragic reminder of the security challenges facing parts of the country.

“President Bola Ahmed Tinubu has expressed shock over the death of retired Major-General Rabe Abubakar while in the custody of terrorists in Katsina State,” the statement read.

General Abubakar, who had retired from the Nigerian Armed Forces after a distinguished career, was said to have been travelling to his hometown when he was intercepted and abducted by armed men.

Advertisement

“General Abubakar, after a distinguished career in the military, retired a few years ago. He was on his way to his hometown when the hoodlums captured him,” the statement stated.

The presidency also revealed that the late officer’s wife was taken alongside him and is still being held by the abductors, a detail that has further intensified public concern over the incident.

The president extended condolences to the bereaved family, the people of Katsina State, and the military establishment, describing the loss as painful and unacceptable.

He also reiterated the government’s uncompromising stance on terrorism and kidnapping, warning that the state would not be blackmailed into concessions.

Advertisement

While condemning the attack, Tinubu declared: “Bandits, kidnappers, and sponsors of terror should now surrender or face the full force of the Nigerian State. These windows of surrender will not remain open forever. And no mercy will be shown to those who trade in the blood of Nigerians.”

He further stressed national unity and resilience in the face of insecurity, insisting that the country would ultimately prevail.

“As Nigerians, we must stand united and be assured that the enemies of our nation shall soon be history. We will triumph over terror and continue to build a more prosperous nation,” the President said.

On the broader fight against insecurity, Tinubu said the tragedy should serve as a turning point in Nigeria’s counterterrorism efforts, rejecting any form of negotiation with armed groups.

Advertisement

“General Abubakar’s death should further serve as a defining moment in our battle against terrorists and insurgents, never to negotiate with them on any terms, but to continue to treat them as the greatest enemies of our dear nation, who should never be spared,” the statement added.

Continue Reading

News

Board releases lists of successful NSCDC, NIS, NCoS applicants

Published

on

By

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

The Civil Defence, Correctional, Fire, and Immigration Services Board has released the names of successful applicants who took part in the November 2025 board and paramilitary recruitment Online Computer-Based Test.

This is contained in a statement by the Secretary to the board, retired Maj.-Gen. Abdulmalik Jibril, on Saturday in Abuja.

The News Agency of Nigeria reports that the agencies recruiting include the Nigeria Security and Civil Defence Corps, the Nigerian Correctional Service, Federal Fire Service, Nigeria Immigration Service, and the CDCFIB.

Jibril announced that successful applicants for the 2024/2025 paramilitary recruitment exercise were to move to the next stage of the exercise, which was physical screening and document verification.

Advertisement

According to him, applicants who took part in the online CBT held in November 2025, are to access the board’s official recruitment portal at https://recruitment.cdcfib.gov.ng between June 15 and 20, to verify their status.

“Applicants are required to log in using the application number generated at the time of initial registration.

“Shortlisted applicants are required to upload their credentials, select a date and venue of their choice for physical screening.”

The CDCFIB secretary advised applicants to carefully follow all instructions outlined on the portal.

Advertisement

He reiterated that the recruitment exercise remained absolutely free, hence, no money should be paid by applicants to any individual, agent, group or organisation claiming to render assistance with shortlisting, venue allocation, document upload, access to screening venue or final selection.

“The general public is advised to ignore fake recruitment messages, fraudulent links and unauthorised persons claiming to represent the board.

“Kindly note that all official updates shall be communicated through the CDCFIB recruitment portal, as well as approved official communication channels,” he said.

Jibril reassured Nigerians of the board’s commitment to ensuring that the exercise was conducted transparently, credibly, and merit-based in consonance with extant rules guiding recruitment processes.

Advertisement

NAN

Continue Reading

News

Protect Vulnerable Benue People From Persistent Attacks, Pope Leo XIV Tells FG

Published

on

By

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

Pope Leo XIV and the Bishop of Makurdi catholic diocese, Wilfred Anagbe, has called on the federal government to protect vulnerable people in Benue State from persistent attacks.

He made the call during the unveiling of a 14-foot memorial wall to commemorate the 1st anniversary of those killed in Yelewata on June 13th 2025.

In a message read by the Bishop, Pope Leo XIV assures the people of Yelewata of sustained prayers as leaders across political lines demanding workable solutions to the killings in Benue state

The one-year memorial wall monument built and commissioned by American missionaries led by Judd Saul, who also donated relief materials consisting of food and non-food items, is part of the global efforts to address attacks on vulnerable communities across Nigeria.

Advertisement

A total of 271 people, including 66 Children, 83 women, and 122 men, who were killed, have their names engraved on the memorial wall.

Continue Reading

Trending

Copyright © 2024 Naija Blitz News