Six years after Nigeria paid off its external debt and obtained a clean bill of health, the country’s external debt has risen to US$6.67 billion, the local media Monday quoted the Debt Management Office (DMO) as saying.
The figures show that the debt increased by US$143 million in the first quarter of 2013 to US$6.67 billion, from US$6.527 billion at the end of last year.
The debt increased all through 2012, from US$5.91 million in March 2012 to US$6.527 billion at the end of the year.
In 2006, Nigeria paid off its multi-billion dollar Paris Club debt, becoming the first African nation to do so.
The country agreed to pay the Paris Club US$12.4 billion while the remainder of its over US$30 billion official debts was written off.