The National Bureau of Statistics (NBS) in its report on Nigerian Domestic and Foreign Debt – June 2018 data, said Nigerian’s States and Federal Debt Stock data as of 3oth June 2018 reflected that the country’s foreign and domestic debts stood at $22.08bn and N15.63trn 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 NBS showed that Lagos State has the highest foreign debt profile among the thirty-six 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, the 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% (2,612,431,503.89 Naira) to the total domestic debt stock.
Nigerian Domestic and Foreign Debt – June 2018 data…
