(Adds debt ratio, background)
ABUJA, March 30 (Reuters) - Nigeria's total public debt
rose to 46.25 trillion naira ($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.
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.
Nigeria's total public debt could rise to 77 trillion naira
this year, the head of the DMO, Patience Oniha, said in January,
if parliament grants approval for a central bank temporary
advance to government to be swapped to bonds coupled with new
borrowings to fund the 2023 budget.
(Reporting by Chijioke Ohuocha; Editing by Jon Boyle and
Bernadette Baum)
Reuters Messaging: chijioke.ohuocha.thomsonreuters@reuters.net))
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