Debt Management Office, DMO, said the cost of Nigeria’s domestic debt servicing has increased by 20.1% within one year.
Figures from DMO revealed that the Federal Government spent N247.46 billion more in servicing the domestic component of its public debt in 2017.
According to statistics, the cost comprised principal repayment of N25 billion and interest payment of N1. 451 billion.
Nigeria currently spend N1.48 trillion on Domestic debt servicing annually.