The Debt Management Office (DMO) has said that currently Nigeria’s debt stood at three point eight trillion naira.
          The Director-General, Doctor Abraham Nwankwo, made this known at an interactive session with the media in Lagos that the public debt stock was made up of local and external debts. 

         Doctor Nwankwo said that while the local debt stood at three point two- two billion naira, the external debt was three point nine four billion dollars as at the end of December last year. 

          He said the ratio of the public debt to Gross Domestic Product (GDP) was now thirteen point eight per cent, which he described as comfortable.

According to him, the DMO had facilitated the establishment of debt management offices in the thirty six states of the federation and added that the offices were to aid the states in efficient management of their debts and long-term borrowing from the capital market.