Has FG repaid all loans?

A message forwarded several times on WhatsApp claims Nigeria Successfully repaid China, Islamic Bank, Arab Bank, IMF, And Others N3.63tn Debt.

The claim is misleading, here’s what we know

Different creditors received payments Between January And December Of 2022 in Naira and Dollars.

Data from the Debt Management Office (DMO) obtained by Legit.ng, Nigeria spent N3.63 trillion servicing its external and domestic debts in 2022.

Meanwhile, in another report, it was revealed that Nigeria’s total public debt stock rose to N46.25 trillion as of the end of December 2022.

This is a 14.46% increase or N6.69 trillion compared to N39.56 trillion recorded on December 31, 2021.

The N6.69 trillion was the new amount borrowed by the government, a double of the amount of loan repaid.

Conclusion:

The claim the federal government has repaid all loans is FALSE