Nigeria, Jan. 22 -- Nigeria's overall national debt increased by 5.97% (N8.02 trillion) from N134.3 trillion in June 2024 to N142.3 trillion as of September 30, 2024.

This aligns with the most recent information that the Debt Management Office (DMO) made public on Tuesday.

According to Nairametrics, this increase represents the combined effects of growing domestic borrowing and the impact of exchange rate depreciation on external debt when translated into naira terms.

Currency depreciation fuels the rise in external debt.

According to DMO data, Nigeria's external debt increased slightly by 0.29% in dollar terms from $42.90 billion in June to $43.03 billion in September.

Nonetheless, the naira equivalent of external debt increased by ...