National Bureau of Statistics earlier today released Nigeria’s domestic and foreign debt report for Year 2016.
The Nigerian states and federal debt stock data as at 30th June 2017 reflected that the country’s foreign and domestic debts stood at $15.05bn and N14.06trn respectively.
Numerical and non-numerical information on Nigeria’s foreign debt collected from multiple reports and compiled into aggregate data showed that $9.67bn of the debt was multilateral while $218.25m of the debt was bilateral (AFD) and $5.15bn from the Exim Bank of China credited to the Federal Government of Nigeria (FGN).
The breakdown of Nigeria’s domestic debt stock by instruments shows that federal government bonds constitutes about 68.41 per cent, with Nigerian treasury bills put at 29.64 per cent.
Treasury bonds constitute just 1.5 per cent of the domestic debt stock.
Total federal government domestic debt is put at exactly N11.05 trillion while the total states and FCT domestic debt is put at exactly N3 trillion.
The total federal government domestic debt and states domestic debt all summing up to 14.06 trillion naira.
All figures were provided to the National Bureau of Statistics by each of the 36 states of the federation and the Federal Capital Territory.
The state with the highest domestic debt is Kwara with about N311.75 billion owed while Anambra owes only 3.99 billion naira making the Nigerian state with the lowest domestic debt profile.