Nigeria’s Debt Now N28.63trn

Nigeria’s total debt portfolio stands at N28.63trillion as at 31st March, 2020, the National Bureau of Statistics has disclosed.

Its website report titled “Nigeria domestic and foreign debt first quarter 2020,” said in the period under review, the country’ domestic debt hits N18. 64 trillion, representing 65.11 percent of the entire debt profile.

NBS said: “Nigerian States and Federal Debt Stock data as at 31st March 2020 reflected that the country’s total public debt portfolio stood at N28.63trn.

“Further disaggregation of Nigeria’s total public debt showed that N9.99trn or 34.89% of the debt was external while N18.64trn or 65.11% of the debt was domestic.

“N18.64trn or 65.11% of the debt was domestic.

Nigerian States and Federal Debt Stock data as at 31st March 2020 reflected that the country’s total public debt portfolio stood at N28.63trn.”

According to the report, States and FCT domestic debt was put at N4.11trillion with Lagos state accounting for 10.8 per cent of the total domestic debt stock while Yobe State has the least debt stock in this category with a contribution of 0.7 per cent.

The Bureau explained the highlights of Nigerian Domestic and Foreign Debt – Q4 2019.

It contained the Domestic Debt Stock for 28 States: Abia, Adamawa, Akwa Ibom, Bauchi, Bayelsa, Benue, Cross River, Delta, Ebonyi, Edo, Ekiti, Enugu, Gombe, Imo, and the Domestic Debt Stock Figures for six States: Anambra, Borno, Kano, Kebbi, Lagos and Zamfara were as at December 31, 2019.

The report also announced the Domestic Debt Stock Figures for Rivers State were as at December 30, 2018

Jigawa, Kaduna, Kogi, Kwara, Nasarawa, Niger, Ogun, Ondo, Osun, Oyo, Plateau, Sokoto, Taraba, Yobe and the FCT as at March 31, 2020.

NBS said the report explained the Domestic Debt Stock Figures for Katsina State were as at June 30, 2019