Nigeria’s total public debt stock jumped to N44.06 trillion as of September 30, according to the Debt Management Office (DMO).

According to the Debt Office, the total public debt stock comprised domestic debt of N26.92 trillion and external debt of N17.5 trillion.

The DMO, in a statement on its website, on Friday, attributed the increase to new borrowings by the Federal Government to part-finance the deficit in the 2022 Appropriation Act, as well as new borrowings by sub-nationals.

The statement reads: “As at September 30, 2022, Nigeria’s Total Public Debt Stock which comprises the Total Domestic and External Debt Stock of the Federal Government of Nigeria (FGN), all State Governments and the Federal Capital Territory (FCT) stood at N44.06 trillion.

“In comparison, the Total Public Debt figure as at June 30, 2022, was N42.84 trillion.

“The Total Domestic Stock as of September 30, 2022, was N26.92 trillion while the Total External Debt stock as of September 30, 2022, was N17.15 trillion.

“The increase in the Debt Stock was largely due to new borrowings by the Federal Government to part-finance the deficit in the 2022 Appropriation Act, as well as, New Borrowings by sub-nationals.”