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 Savings Bond||10,750,443,000.00||0.08%|
|Nigerian Treasury Bills||2,735,967,538,000.00||21.42%|
|Nigerian Treasury Bonds||150,988,000,000.00||1.18%|
|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)|