The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said the total public debts of Nigeria would skyrocket to the sum of N38trn by December 2021.
She made this known during her presentation to the Senate Committee on Local and Foreign Debts, on Tuesday.
She stated that as at June 30, 2020, the country’s debt was a total of $85.90 billion.
The Minister said, ” The total public debt stock comprising the External and Homes debts of the Federal and state governments and the Federal Capital Territory stood at N31.01trn (USD85.90 billion) as at June 30, 2020.
Read more: We Have Failed Our Children And Need To Do Better, Minister Of Finance, Zainab Ahmed Advises Parents
“It is projected, based on existing approval, to rise to N32.51 trillion by December 31, 2020 and N38.68 trillion by December 31,2021.”
Photo Credit: Twitter
