Nigeria’s Public Debt increases by N1.23trn in three months – NBS

Must Read

Benefits Of Face Steaming And How To Do It At Home

Face steaming is one of the hottest skincare trends of the past few years. You can see celebrities and...

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is...
- Advertisement -

Nigerian States and Federal Debt Stock data as at 31st March 2020 reflected that the country’s total public debt portfolio stood at N28.63trn.

According to the Nigerian Domestic and Foreign Debt Q1 2020 report released by the National Bureau of Statistics (NBS), the total public debt rose by 4.48 per cent compared to the N27.40 trillion recorded in Q4 2019.

Further disaggregation of Nigeria’s total public debt showed that N9.99trn or 34.89% of the debt was external while N18.64trn or 65.11% of the debt was domestic.

Of the domestic debt of N18.64 trillion, the federal government’s share alone is N14.53 trillion compared to Q4 2019 when the total domestic debt was N18.37 trillion with the federal government accounting for N14.27 trillion.

Similarly, States and FCT domestic debt was put at N4.11trillion with Lagos state accounting for 10.8% of the total domestic debt stock while Yobe State has the least debt stock in this category with a contribution of 0.7%.

- Advertisement -

Federal government’s domestic debt service for Q1 also increased to N609.13 billion compared to N254.04 billion in Q4 of 2019.

Abia State accounted for N69.63 billion of the domestic debt stock of states, Adawawa N101.58 billion, Akwa Ibom N240.03 billion, Anambra N33.91 billion, Bauchi N100.40 billion, Bayelsa N154.95 billion, Benue N116.19 billion, Borno N83.38 billion and Cross River N165.91 billion within the review period.

Read Also:  Nigeria Has Room for More Public Debt, Expert Insists

Others include Delta N230.75 billion, Ebonyi N42.41 billion, Edo N84.76 billion, Ekiti N77.89 billion, Enugu N62.98 billion, Gombe N82.50 billion, Imo N163.99 billion, Jigawa N36.02 billion, Kaduna N78.69 billion, Kano N107.75 billion, Katsina N66.16 billion, Kebbi N69.26 billion and Kogi N128.91 billion.

Others are Kwara N62.89 billion, Nasarawa N60.99 billion, Niger N59.83 billion, Ogun N143.53, Ondo N65.29 billion, Osun N137.30 billion, Oyo N100.59 billion, Plateau N130.72 billion, Rivers N266.93 billion, Sokoto N47.74 billion, Taraba N81.26 billion, and Zamfara N70.84 billion as well as the FCT with N106.80 billion.

- Advertisement -

Download Q1 2020 Nigerian Domestic and Foreign Debt Report

- Advertisement -
Nigeria’s Public Debt increases by N1.23trn in three months - NBS - Brand SpurNigeria’s Public Debt increases by N1.23trn in three months - NBS - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

1 COMMENT

  1. Nigeria’s Public Debt increases by N1.23trn in three months - NBS - Brand Spur NIGERIA’S DEBT BURDEN INCREASED BY 1.23TRILLION NAIRA IN THE FIRST 3 MONTHS OF 2020- NBS – Abuja Reporters

    […] SOURCE: https://brandspurng.com/2020/07/12/nigerias-total-public-debt-hits-%e2%82%a628-63-trillion-in-q1-202… […]

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Nigeria’s Public Debt increases by N1.23trn in three months - NBS - Brand SpurNigeria’s Public Debt increases by N1.23trn in three months - NBS - Brand Spur

Latest News

Amaten Poised to Become Global Leader in Digital Gift Cards Following A Striking $100 Million in Sales

Leading Japan with 60% market share, Amaten to become the next Amazon in the gift card industry, estimated to...

Boutir Launches “Your online store solution from a mobile phone” New TV Ad Campaign

HONG KONG, CHINA - Media OutReach - 11 August 2020 - Boutir, a social mobile commerce solution and multi-channel commerce platform provider, has produced a new TV commercial series...

Dettol wins the Outstanding Community Service in Personal Hygiene of Health Partnership Award 2020 in Hong Kong

HONG KONG, CHINA - Media OutReach - 10 August 2020 - RB Hong Kong is proud to announce Dettol received the Health Partnership Award 2020 that recognized...

Online gifting retailer Flower Chimp observe sales spike amidst the new normal

SINGAPORE - Media OutReach - 10 August 2020 - In 2020, with uncertain times taking the world by a storm, many businesses have fallen victim to the pandemic and...

FMDQ Exchange lists United Capital PLC and LAPO MFB SPV PLC Bonds

Local Capital Markets Provide Succour to Nigerian Corporates Amidst COVID-19 Recovery as FMDQ Admits New Debt Securities to its Platform As corporates and organisations spring...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Nigeria’s Public Debt increases by N1.23trn in three months - NBS - Brand SpurNigeria’s Public Debt increases by N1.23trn in three months - NBS - Brand Spur