As At End Of 2017,Nigeria’s Public Debt Stands At N10.15 Trillion – NBS

Nigeria’s Public Debt Stock as at the end of 2017 stood at N10.15 trillion ($28.21 billion).
data released by the National Bureau of Statistics (NBS) showed that the public debt stock comprised foreign and domestic debts of the federal government, states and the Federal Capital Territory, Abuja.

A breakdown of the debt stock as at 31st December 2017 reflected that the country’s foreign and domestic debts stood at N6.80 trillion ($18.9 billion) and N3.35 trillion ($9.31 billion ) respectively.

Further disaggregation of Nigeria foreign debt showed that N3.69 trillion ($10.24 billion) of the debt was multilateral; N98.99 billion ($274.98 million) was bilateral (AFD).

The data showed that N752.4 billion ($2.09 billion) was from the Exim Bank of China credited to the Federal Government of Nigeria (FGN) while N2.27 trillion ($6.30 billion) was commercial.

The data also showed that total FGN debt accounted for 78.23 per cent of Nigeria total foreign debt while all States and the Federal Capital Territory (FCT) accounted for the remaining 21.77 per cent.

Lagos State has the highest foreign debt profile among the thirty-six states and the FCT accounting for 35.61 per cent.

Kaduna accounted for 5.79 per cent of the total foreign debt while Edo had 5.64 per cent, Cross River accounted for 4.08 per cent and Enugu had 3.23 per cent.

Similarly, total state domestic debt was N3.35 trillion with Lagos state accounting for 10.85 per cent of the total domestic debt stock while Sokoto has the least debt in this category with a contribution 0.78 per cent to the total domestic debt stock.