National Bureau of Statistics – Nigeria’s Foreign Debt At $12.5B

by Ike Obudulu Last updated on August 26th, 2017,

National Bureau of Statistics – Nigeria’s Foreign Debt At $12.5B. The National Bureau of Statistics (NBS) said Nigeria’s foreign debt stood at 11.41 billion dollars while its domestic debts was N14.02 trillion respectively in 2016.

The NBS stated in “Nigerian Domestic and Foreign Debt – 2016’’ data, posted on its website on Wednesday in Abuja, that the sum reflected the states’ and Federal debt stock.

The report showed that 7.99 billion dollars of the debt was multilateral; $198.25 million dollars was bilateral (AFD) while 3.22 billion dollars from the Exim Bank of China credited to the Federal Government.

“Total Federal Government debt accounted for 68.72 per cent of Nigeria’s total foreign debt while all states and the Federal Capital Territory (FCT) accounted for the remaining 31.28 per cent.

“Similarly, total Federal Government debt accounted for 78.89 per cent of Nigeria’s total domestic debt while all states and the Federal Capital Territory (FCT) accounted for the 21.11 per cent balance.’’

The report further gave a breakdown of the Federal Government domestic debt stock by instruments reflected that N7.56 trillion or 68.41 per cent of the debt were in Federal Government Bonds.

About “N3.28 trillion or 29.64 per cent are in treasury bills and N215.99 million or 1.95 per cent are in treasury bonds.

“Lagos State has the highest foreign debt profile among the 36 states and the FCT accounting for 38.70 per cent.

“Kaduna (6.25 per cent), Edo (5.15 per cent), Cross River (3.22 per cent and Ogun (2.90 per cent) followed closely.’’

Similarly, the report stated that Lagos State had the highest domestic debt profile among the thirty-six and the FCT accounting for 10.54 per cent.

“Delta (8.15 per cent), Akwa Ibom (5.25 per cent), FCT (5.16 per cent) and Osun (4.97 per cent) followed in that order,’’ the report stated.

Author

Ike Obudulu

Ike Obudulu

Versatile Certified Fraud Examiner, Chartered Accountant, Certified Internal Auditor with an MBA in Finance And Investments who has both worked for and consulted with some of the world's largest companies on main street and wall street in over 20 countries, Ike brings his extensive reporting and investigations experience to bear on his role as Chief Editor.
Phone
Email

Leave a Reply