The Federal Government owed N20.42trn as of June 30, 2019, while the 36 states and the Federal Capital Territory had an all-out obligation arrangement of N5.28trn.
The obligation stock is comprised of N8.32trn ($27.16bn) outer obligation and N17.38trn obtained locally, as per the DMO.
The country's open obligation, which remained at N22.38trn as of June 2018, expanded to N24.39trn in December 2018 and N24.95trn in March 2019.
The Monetary Policy Committee of the Central Bank of Nigeria noted a month ago that the rising open obligation was one of the headwinds to the country's development prospects.
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, said in August that the nation didn't have any obligation challenge however a test with producing adequate income.
"There is a ton of cold-heartedness around the degree of our obligation.
"I need to repeat that our obligation isn't excessively high — what we have is an income issue.
"Our obligation is still, particularly inside a sensible financial breaking point.
"Actually, among our near nations, we are the least as far as obtaining," she had said.
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