Nigeria's public debt has seen significant changes across recent administrations, reflecting various economic policies and global factors. Here's a concise overview:
Goodluck Jonathan Administration (2010–2015):
- External Debt: Increased from $3.5 billion to $7.3 billion.
- Domestic Debt: Rose from ₦2.17 trillion to ₦5.62 trillion.
- Total Debt: Combined debt escalated from ₦2.42 trillion to ₦6.17 trillion, marking a 155% increase.
Muhammadu Buhari Administration (2015–2023):
- External Debt: Grew to approximately $41.59 billion by the third quarter of 2023.
- Domestic Debt: Reached about ₦55.93 trillion in the same period.
- Total Debt: The public debt stock was around ₦87.91 trillion by Q3 2023, reflecting a 75.27% increase from Q1 2023.
Bola Ahmed Tinubu Administration (2023–Present):
- Total Debt: As of December 2024, the total public debt stood at ₦134.30 trillion, indicating an increase of ₦46.92 trillion since assuming office in May 2023.
These statistics underscore the evolving fiscal landscape of Nigeria and highlight the challenges and responsibilities faced by each administration in managing the nation's debt.
Sources:
- Debt Management Office Nigeria
- National Bureau of Statistics
- World Bank International Debt Statistics
