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% |
| 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 | |
