FG, States’ Debt Profile Rise To ₦32.92trn — NBS

FG, states’ debt profile rise to N32.92trn — NBS
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The National Bureau of Statistics (NBS) has revealed that as of the end of Q4 2020 which is Dec. 31, 2020, Nigeria’s total public debt portfolio stood at ₦32.92 trillion.

It made the revelation in its Nigerian Domestic and Foreign Debt report for Quarter Four, 2020, obtained from its website on Monday in Abuja.

It added that the debt profile was for the States and the Federal Government.

According to the bureau, Nigeria’s total public debt showed that ₦12.71 trillion or 38.60 percent of the debt was external, while ₦20.21 trillion or 61.40 percent of the debt was domestic.

Read Also: Atiku Shocked By Nigeria’s Debt Profile, Says Nation In Financial Crisis

‘Further disaggregation of Nigeria’s foreign debt showed that 17.93 billion dollars of the debt were multilateral, 4.06 billion dollars was bilateral from the African Development Bank (AfDB), Exim Bank of China, Japan International Cooperation Agency (JICA), India, and KFW.

‘Meanwhile, 11.17 billion dollars was commercial which are Eurobonds and Diaspora Bonds and 186.70 million dollars as Promissory notes.’

The report said that the total States and Federal Capital Territory (FCT) domestic debt was put at ₦4.19 trillion with Lagos State accounting for 12.15 percent of the debt stock.

It added that Jigawa had the least debt stock in this category with a contribution of 0.74 percent.

 

AFRICA DAILY NEWS, NEW YORK

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