The Debt Management office says President Muhammadu Buhari administration will leave a debt stock about N77 trillion for the incoming government from the current debt of N44.06 trillion as at third quarter of last year.
Director General of DMO, Ms Patience Oniha said this in a statement Today.
She said if the new borrowings are included in the current debt of N44.06 trillion, the total debt stock would amount to N77 trillion.
She also said while the ways and means is about N22.3 trillion with an interest rate of 18.5 per cent, government is expected to borrow additional N8 trillion before it exits office on May 29, this year.
“It will be safe to say that we will be looking at N77 trillion. While the debt is growing because of new borrowing, revenue is receiving significant importance. Like DMO always says, you can’t talk about debt without talking about revenue. We need the two to work together” she said.
