Nigeria’s foreign debts as at $15.05bn in June – NBS

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Nigeria’s foreign debts as at $15.05bn in June – NBS

 

The National Bureau of Statistics,( NBS), disclosed Tuesday that Nigeria’s foreign debt has hit $15.05 billion, while the domestic debt portfolio was put at N14.06 trillion in June this year.

It further indicated that the figure represents a growth of  $3.64 billion and N0.04 trillion respectively within a six month period.

According to NBS; “total Federal Government debt accounted for 74 per cent of Nigeria’s total foreign debt while all states and the Federal Capital Territory, (FCT), accounted for the remaining 26 per cent.

Federal Government’s debt accounted for 78.66  per cent of Nigeria’s total domestic debt, while all states and the Federal Capital Territory,( FCT), stood at 21.34 percent balance.

A breakdown of the Federal Government domestic debt stock by instruments reflected that N7.5 trillion or 68.41 per cent in Federal Government Bonds.

About N3.3 trillion or 29.64 per cent are in treasury bills, while N215.99 million or 1.95 percent are in treasury bonds.

Lagos State has the highest foreign debt profile among the 36 states and the FCT, accounting for 37 per cent; Kaduna, 6 per cent; Edo, 5 per cent; Cross River, 4 per cent; and Ogun, 3 per cent.

Lagos State, according to the report also has the highest domestic debt profile among the thirty-six states and the FCT, accounting for 10.39 per cent; Delta, 8.04 per cent; Akwa Ibom, 5.18 per cent; FCT, 5.09 per cent; and Osun, 4.90 per cent, followed in that order.”

 

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