According to the report released by the National Bureau of Statistics (NBS) and made available to Brand News Day, Nigeria’s total public debt portfolio showed that N12.71trn or 38.60% of the debt was external while N20.21trn or 61.40% of the debt was domestic.
Further disaggregation ofNigeria’s foreign debtshowed that $17.93bn of the debt was multilateral; $4.06bm was bilateral from the AFD, Exim Bank of China, JICA, India, and KFW while $11.17bn was commercial which are Eurobonds and Diaspora Bonds and $186.70 as Promissory notes.
Source: NBS
The total States and FCT domestic debt was put at N4.19trn with Lagos state accounting for 12.15% of the debt stock while Jigawa State has the least debt stock in this category with a contribution of 0.74%.
Photo by Jonathan Borba
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Adebayo
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