The Debt Management Office, DMO, says that Nigerian’s total debt profile is 25.7 trillion naira.
The Director-General of the office, Ms. Patience Oniha, announced this while addressing the House of Representatives Committee on Public Account in Abuja.
Oniha said that external borrowing accounted for about 32 percent of the total debt while 68 percent was domestic.
She explained that the Debt Management Office was an agency of government which began operations in 2000 following the country debt management problems of the country which led to the debt relief.
Oniha said that the agency was responsible for the management of public debts and its mandate includes contracting debts on behalf of the Federal Government.