The National Bureau of Statistics (NBS) yesterday confirmed that Nigeria’s debt profile stood at N33.11 trillion in March 2021. This confirmed earlier report by the Debt Management Office (DMO).
In its breakdown, the NBS noted that N12.47 trillion, representing 37.67 per cent of the debt was external while N20.64 trillion, representing 62.33 per cent was domestic.
This was made known in the NBS report titled “Domestic and Foreign Debt (Q1 2021)”.
The report stated that Nigerian States and Federal Debt Stock data as of 31st March 2021 reflected that the country’s total public debt portfolio stood at N33.11 trillion.
“Further disaggregation of Nigeria’s total public debt showed that N12.47trillion or 37.67% of the debt was external while 20.64trn or 62.33% of the debt was domestic,” the report stated.
The NBS added that Federal Government of Nigeria Only domestic debt stock was put at N16.51 while States and FCT domestic debt stock was put at N4.12 trillion Lagos state accounting for 12.31 per cent of the total domestic debt stock while Jigawa State has the least debt stock in this category with a contribution of 0.77 per cent to the total domestic debt stock.
Meanwhile, it explained that this domestic debt data report was generated from the signed-off submissions received from the states and the FCT.
The NBS noted that domestic debt stocks for 35 States: Abia, Adamawa, Akwa Ibom, Anambra, Bauchi, Bayelsa, Benue, Borno, Cross River, Delta, Ebonyi, Edo, Ekiti, Enugu, Gombe, Imo, Jigawa, Kaduna, Kano, Kebbi, Kogi, Kwara, Lagos, Nasarawa, Niger, Ogun, Ondo, Osun, Oyo, Plateau, Sokoto, Taraba, Yobe, Zamafara and the FCT, were as at March 31, 2021, while the domestic debt stock figures for Rivers State was as at December 30, 2018.
THE NATION
