Nigeria's total debt rises

NIGERIA'S total public debt rose to 46, 25 trillion naira (US$103, 1 billion) in 2022, from 39, 56 trillion naira a year earlier, as the government ramped up borrowing to fund its budget deficit, the Debt Management Office (DMO) said on Thursday this week. Nigeria's debt-to-GDP ratio stood at 23,2% in 2022, compared with 22,47%, within the country's self-imposed limit of 40%, the DMO said. — Reuters.