Site Title

A statement issued by the Debt Management Office (DMO) about the borrowing trend of Nigeria Government from the year 1999 to 2021.

During President Obasanjo’s administration, the sum of 2.4 trillion naira was borrowed, it then raised to 6.17 trillion naira an addition of 3.77 trillion naira from 2007 to 2011 during President Yar’adua’s tenure.

Also, the tenure of President Jonathan in 2011 – 2015, it raised from 6.17 trillion naira to 12.12 trillion naira an addition of 5.95 trillion naira.

President Buhari’s administration which began from 2015 till date, it has skyrocketed to 26.91 trillion naira with an addition of 14.79 trillion naira.

The administration with the highest number of loan is Buhari’s administration while the lowest is President Obasanjo’s regime.

The fixed rates of naira to dollar (#=$) as at the following years:

From 1999 to 2007 the price of $1 to naira was #116.8, from 2007 to 2011 it raised to #156.7, increment was made in the year 2007 to 2011 from #116.8 to #195.95 and from 2015 to 2022 it raised to #437.93