Lagos remains the state with the highest debt profile in 2018 – NBS

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Nigerian States and Federal Debt Stock data as at 31st December 2018 reflected that the country’s foreign and domestic debts stood at $25.27bn and N16.63trn respectively. 

Further disaggregation of Nigeria’s foreign debt showed that $11.01bn of the debt was multilateral; $344.63m was bilateral (AFD) and another $2.75bn bilateral from the Exim Bank of China, JICA, India and KFW while $11.17bn was commercial which are basically Eurobonds and Diaspora Bonds.

Lagos State has the highest foreign debt profile among the thirty-six states and the FCT accounting for 5.64% while Edo (1.09%), Kaduna (.0.90%) and Cross River (0.75%) followed closely.

Similarly, total domestic debt was N16.63 trillion with Lagos state accounting for 3.19% of the total domestic debt stock while Yobe State has the least debt stock in this category with a contribution of 0.17% to the total domestic debt stock.

Federal Government Domestic Debt Stock by Instrument as at December 31, 2018
Instruments Amounts in Naira % of Total
FGN Bonds 9,334,737,982,592.00 73.07%
FGN Savings Bond 10,750,443,000.00 0.08%
FGN Sukuk 200,000,000,000.00 1.57%
Green Bond 10,690,000,000.00 0.08%
Nigerian Treasury Bills 2,735,967,538,000.00 21.42%
Nigerian Treasury Bonds 150,988,000,000.00 1.18%
Promissory Notes 331,271,738,405.00 2.59%
TOTAL 12,774,405,701,997.00 100.00%
Read Also:  Nigeria's Total Public Debt Stood At N25.70trn in Q2 2019, Says NBS
DOMESTIC DEBT DATA FOR THE 36 STATES OF THE FEDERATION AND THE FEDERAL CAPITAL TERRITORY AS AT DECEMBER 31, 2018
AMOUNT IN NAIRA   PROVISIONAL
SN STATE  DEBT STOCK (N) 
1 LAGOS*           530,243,773,934.40
2 DELTA           228,805,996,159.83
3 RIVERS*           225,592,469,150.22
4 AKWA IBOM*           198,663,229,326.07
5 CROSS-RIVER           167,955,848,722.32
6 FCT*           164,245,377,802.60
7 OSUN           148,101,237,664.94
8 BAYELSA           130,043,473,800.97
9 EKITI           118,011,414,814.34
10 KANO*           117,082,317,490.54
11 PLATEAU           100,366,504,576.83
12 IMO            98,782,494,271.48
13 OGUN            98,716,941,494.10
14 BENUE            97,347,605,190.14
15 BAUCHI            92,367,170,606.61
16 OYO            91,515,756,366.15
17 ADAMAWA            89,659,119,455.46
18 EDO            86,820,254,212.61
19 NASARAWA*            85,363,486,609.87
20 KOGI            84,922,376,449.78
21 KADUNA*            84,637,112,775.54
22 BORNO*            68,381,705,608.58
23 KEBBI            67,442,333,186.56
24 ABIA            67,017,185,656.92
25 GOMBE            63,337,930,142.60
26 TARABA*            61,508,573,011.13
27 ZAMFARA            59,900,241,661.65
28 KWARA            59,135,900,168.96
29 EBONYI            55,597,352,310.28
30 ENUGU            55,032,067,848.83
31 ONDO*            49,123,506,028.25
32 NIGER            41,831,488,692.26
33 SOKOTO            38,604,705,528.74
34 JIGAWA            35,163,169,800.26
35 ANAMBRA            33,490,668,536.72
36 KATSINA **            30,852,661,159.10
37 YOBE            27,772,599,253.39
Total States     3,853,436,049,469.02
FGN Only   12,774,405,700,000.00
Total National   16,627,841,749,469.00
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