Nigeria’s Debt Profile Hits N32.92trn

Related stories

China Snubs U.S. Crude for Third Month, Even as Ethane Trade Restarts

China has avoided buying U.S. crude oil for three...

Super Eagles Icon Peter Rufai Passes Away at 61

By Abiola Olawale The Nigerian football community has been thrown...

Dakuku Peterside’s Beneath the Surface Book Out in October

By Abiola Olawale Masobe Books, a renowned publisher has announced...

Oil Prices Dip on Confirmation of Inventory Build

Crude oil prices opened weaker today following Wednesday’s release...

Buhari In Stable Condition – Ex-Aide Confirms

By Abiola Olawale Ahmed Bashir, ex-aide to the immediate past...

Nigeria’s total public debt portfolio as at December 31, 2020, stood at N32.92 trillion, The National Bureau of Statistics (NBS) has revealed.

This was contained in the latest report of NBS, titled Nigerian Domestic and Foreign Debt report for Quarter Four, 2020, obtained from its official website on Monday.

According to the report, N12.71 trillion or 38.60% of the debt was external, while N20.21 trillion or 61.40% of the debt was domestic.

Further breakdown of the report revealed that the domestic debt of the 36 States with the inclusion of the Federal Capital Territory (FCT) was put at N4.19 trillion, at the fourth quarter of 2020.

In the fourth quarter of 2020, Lagos State recorded the highest domestic debt with N508.7 billion, accounting for 12.15% of the total debt stock.

River State recorded the second highest domestic debt with N266.9 billion, accounting for 6.38% of the total debt stock.

Also, under the period in review, Jigawa State recorded the lowest domestic debt with N30.9 billion, accounting for 0.74% of the total debt stock while Sokoto State recorded the second lowest domestic debt with N42.3 billion, accounting for 1.01% of the total debt stock.

Further disaggregation of the foreign debt showed that Multilateral debt, which is the debt owed international financial institution such as the International Monetary Fund (IMF) and the World Bank, stood at $17.93 billion (N6.80 trillion).

Also, the bilateral debt, which is the debt owed to countries or private banks, stood at $4.06 billion (4.23trillion)

Similarly, the commercials debt, which is the debt used to fund major capital expenditures, stood at $11.17 billion (N4.23 trillion)

Promissory note, which is the financial instrument that contains a written promise of the note’s issuer to pay a definite sum of money at a later date, stood at $186.70billion (N70.8trillion)

By Abiola Olawale (the New Diplomat's Southwest Bureau)
By Abiola Olawale (the New Diplomat's Southwest Bureau)
Hamilton Nwosa is an experienced, and committed communication, business, administrative, data and research specialist . His deep knowledge of the intersection between communication, business, data, and journalism are quite profound. His passion for professional excellence remains the guiding principle of his work, and in the course of his career spanning sectors such as administration, tourism, business management, communication and journalism, Hamilton has won key awards. He is a delightful writer, researcher and data analyst. He loves team-work, problem-solving, organizational management, communication strategy, and enjoys travelling. He can be reached at: hamilton_68@yahoo.com

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

NDN
Latest News
China Snubs U.S. Crude for Third Month, Even as Ethane Trade RestartsSuper Eagles Icon Peter Rufai Passes Away at 61Dakuku Peterside’s Beneath the Surface Book Out in OctoberOil Prices Dip on Confirmation of Inventory BuildBuhari In Stable Condition - Ex-Aide ConfirmsBREAKING: Ex-President Buhari sick, hospitalised abroad2027: Abure, Usman Clash Over Peter Obi’s Rising Profile in ADC CoalitionMTN’s Dabengwa Tier III Cloud Data Centre: A New Era for West African Tech and AIGanduje: Why are they resigning?OPEC Reports a Global Oil Production Decline in 2024IMF Warns FG to Overhaul 2025 Budget to Prevent Economic Meltdown2027: Peter Obi Vows, Says ADC Coalition 'll prioritize Nigerians’ WelfareTragedy! Liverpool Star Diogo Jota Dies in Car Crash in SpainFamily Announces Burial Date of Ex-Kwara Governor, Cornelius AdebayoSex Scandal: Baltasar Engonga, Ex-Equatorial Guinea Anti-Corruption Boss Bags 18 Years
X whatsapp