Nigeria’s foreign debts now $22.08bn, domestic N15.63trn

Nigerian States and Federal Debt Stock data as at June 30, 2018 showed that the country’s foreign and domestic debts stood at $22.08 billion and N15.63 trillion respectively.

Further disaggregation of Nigeria’s foreign debt showed that $10.88bn of the debt was multilateral; $274.98m was bilateral (AFD) and another $2.12bn bilateral from the Exim Bank of China, JICA, India and KFW while $8.80bn was commercial.

The National Bureau of Statistics (NBS) in its second quarter national debt report released on Friday, indicated that Lagos State has the highest foreign debt profile among the 36 states and the FCT accounting for 34.17% while Edo (6.57%), Kaduna (5.48%), Cross River (4.56%) and Bauchi (3.18%) followed closely.

Similarly, total domestic debt was N3.48 trillion with Lagos State accounting for 14.88 % of the total domestic debt stock while Anambra State has the least debt in this category with a contribution 0.08% to the total domestic debt stock.