Nigerian government has succeeded in paying the debt owed to World Bank among other banks. It successfuly paid N3.36trillion to to China, Islamic Bank, Arab Bank, IMF, Others while borrowing another N6.69 trillion.
It was gathered that the creditors received this payment within the period if January and December 2022 in both naira and dollars.
According to the available data from Debt Management Office (DMO), Nigerian Government spent this N3.36 trillion servicing domestic and external loans in 2022.
However, the payment of the debt was by the creditors which includes, Chinese government, Islamic Bank, Arab bank, International Monetary Fund (IMF) among others.
DMO also revealed that the highest monthly debt servicing expenditure paid in April was N529.88 billion while having the domestic debt service which covers the payment to bond investors, banks and others.
Interestingly, Nigeria public debt rises to N46.26 trillion as at the end of December, 2022, having Lagos State as the most indebted with a total debt of N807.20bn seconded by Delta State.
(Legit.ng)