The study, which was cited in the story and appeared in various national media, said that Nigeria had fallen short of paying off its whole debt to China, which had grown to N110.31 billion during the previous two years.
The principle and repayment fees were included in the China debt stock, the paper said. Between January 2021 and December 2022, the principal fee was N69 billion ($153.85 million), while interest costs came to N41.3 billion ($92.1 million).
But the DMO advised the public to disregard the article, calling it untrue, in a reaction that was recently posted on its website.
“A closer look at the media publications will show that the body is completely detached from the headline which gives the impression that the publishers may have set out to mislead the public,” the debt office said.
It emphasized that Nigeria is steadfastly dedicated to upholding its debt obligations and has never missed one.
Nigeria had a total public debt stock of N46.25 trillion as of December 31 2022.
Many Nigerians have expressed concern over the nation’s mounting debt load and the significant portion of income going toward paying it off.
