…As DMO says Nigeria owes N25.7trn debt as at June 30, Spends N76.951 billion on Q2 Debt Servicing***
The Deputy Comptroller-General, Nigeria Customs Service (NCS), Mr Augustine Chidi on Tuesday cautioned officers and men of the Niger Area Command of the Service against corrupt practices, tasking them to uphold probity and accountability in discharging of their duties, even as the Debt Management Office (DMO) confirms Wednesday, that Nigeria as at June 30, actually owed N25.7 trillion debt, domestically and externally.
Chidi made the call while addressing officers and men of the command which comprises Niger and Kogi at a sensitisation workshop in Minna on Tuesday, warning that the service had zero tolerance for corruption, and that anyone found to have indulged in the act would be dealt with decisively.
He also cautioned them against leaking the secret of the Nigeria Customs Service, saying that doing so would contravene the rules and regulations governing their work.
According to Chidi, holding the workshop was in strict adherence to the directive of Comptroller-General of the service, retired Col. Hamid Ali, that the programme be conducted simultaneously throughout the country.
He said the measure was to reawaken officers and men of the service for maximum results.
In his remarks, Controller in charge of the command, Alhaji Yusuf Kassim, described the workshop as apt and timely and advised the participants to put into practice what they would learn in order to achieve the desired objectives.
In the meantime, the Debt Management Office (DMO) has indicated Nigeria as at June 30, owes N25.7 trillion in debt both domestically and externally.
According to the DMO in its ‘Total Public Debt Portfolio’ obtained from its website in Abuja, as different from its December 31, 2018 debt profile, which posted total debt stock of N24.38 trillion.
The present figure shows an increase in debt stock of N1.32 trillion.
The DMO said that the current total debt stock comprised both the Federal Government debt, that of the 36 states and the Federal Capital Territory (FCT).
For the Federal Government, the DMO said it owed N20.42 trillion, while the states and FCT owed N5.27 trillion.
Of the Federal Government debt, N7.01 trillion was categorised as external debt, while N13.412 trillion was categorised as domestic debt.
For the states and the FCT, N1.309 trillion was owed externally, while N3.966 trillion was owed domestically, the DMO said.
Giving details of the Federal Government’s domestic debt stock by instrument, the DMO said Bonds accounted for N9.691 trillion and Treasury Bills N2.651 trillion.
Others are Treasury Bonds N125.9 billion, Savings Bond N10.431 billion, Sukuk N200 billion, Green Bond N25.69 billion and Promissory Notes N707.7 billion.
Meanwhile for debt service in the second quarter of 2019, the DMO said that the nation had spent N76.951 billion.