NBS: Domestic Debt Stock Stood at N15.63tn, External $22.08bn in Q2

By James Emejo in Abuja

Nigeria’s total domestic and foreign debt stock stood at N15.63 trillion and $22.08 billion respectively, as at June 30, 2018, the National Bureau of Statistics (NBS) has stated.

According to the Nigerian Domestic and Foreign Debt (Q2 2018), which was posted on its website, of the total domestic debt, borrowing by states represented N3.48 trillion, of which Lagos accounted for 14.88 per cent of the total domestic debt, while Anambra had the least debt in the category with a contribution 0.08 per cent to the total domestic debt stock.

However, the foreign borrowing consisted of $10.88 billion from multilateral agencies; $274.98 million from bilateral (AFD) and another $2.12 billion bilateral from the Exim Bank of China, JICA, India and KFW, while $8.80 billion was commercial.

Lagos State had the highest foreign debt profile among the 36 states and the FCT accounting for 34.17 per cent.

Edo accounted for 6.57 per cent of external loans; Kaduna, 5.48 per cent; Cross River, 4.56 per cent and Bauchi, 3.18 per cent.