The total debt of the Federal Government and the 36 states of the federation as well as the Federal Capital Territory now stands at N10.84trn, the Debt Management Office has said.

Statistics obtained from the DMO in Abuja on Monday showed that the total debt as of September 30 is higher than the total debt of the country as of September 30, 2013 by 30.29 per cent.
As of September 30, 2013, the total debt of the three tiers of government stood at N8.32trn. This, however, excluded the domestic debt of the states which was included in the current debt status of the country.

Details of the current debt status of the country showed that the external debts of both the Federal and state government stood at $9.52bn or N1.48trn.

As of September 30, the domestic debt stock of the Federal Government alone stood at $49.12bn or N7.65trn. The domestic debt of states, on the other hand, stood at $10.97bn or N1.71trn.

In comparison, the external debt of both the federal and state governments stood at N1.28trn (or $8.26bn) as of September 30, 2023. Also, the domestic debt of the Federal Government a year ago stood at N7.03trn.

Dissecting the Federal Government’s current domestic debt of N7.65trn by instruments, the Federal Government Bond contributed N4.6trn or 60.12 per cent to the profile; Nigerian Treasury Bills contributed N2.74trn or 35.76 per cent while Treasury Bonds contributed N315.39bn or 4.12 per cent.

As of June 2014, out of a total external debt of $3.01bn owed by the states, the Lagos State Government owed $1.02bn.

Other major holders of the country’s external sub-national debts included Kaduna State which owes $245.51m and Cross Rivers State, $120.21m. Others are Ogun State, $116.69m; Bauchi State, $111.61m; and Oyo State, $80.11m.

The states least exposed to foreign debts included Borno, $16.07m; Plateau, $22.99m; Taraba, $24.06m; Delta, $24.7m and Benue, $28.79m.

However, in comparison to the nation’s total external indebtedness, the states owed only 32.13 per cent; leaving the Federal Government with 67.87 per cent.

Loans from China Export Import Bank and monies raised from Eurobond accounted for $2.54bn of the Federal Government’s $6.36bn external debt while multilateral sources accounted for $3.82bn.

As of June 2013, the nation’s total external loan stood at $6.92bn. This means that over a period of one year, the country’s external debt rose by $2.46bn showing 35.51 per cent increase.

The growth of the nation’s debt stock can be seen in the budget for debt servicing. The Federal Government plans to spend N2.08tn servicing the country’s debt within the next three years.

The figures for debt servicing as well as the county’s debt stock are contained in the Medium Term Expenditure Framework and Fiscal Strategy Paper of the Federal Government.

The document stated that while N591.76bn was utilised in servicing the nation’s debt in 2013, the sum of N712bn, N684bn and N684bn would be used for the 2014, 2015 and 2016 fiscal periods respectively.

http://www.punchng.com/news/national-debt-rises-to-n10-8tn/

Source: http://www..com.ng/

Nigeria's debt stands at $9.52 billion dollars and America's debit stands at $17,955,169,990,210 (approximately $US18 trillion).

We are in a much better place.

10.84trn am very sure d money was used to feed all our pot belle politicians

Billyonaire:
Nigeria's debt stands at $9.52 billion dollars and America's debit stands at $17,955,169,990.21 (approximately $18billion).
We are in a much better place, we owe half of what America owes.

Oga, America's debt is in trillions of dollars, not billions. W no be mates at all for anything. I'm sure if it were $17bn as u said, they would be much less worried thanu they presently are.

Billyonaire:
Nigeria's debt stands at $9.52 billion dollars and America's debit stands at $17,955,169,990.21 (approximately $18billion).

We are in a much better place, we owe half of what America owes.

Will you shut-up

homerac7:


Oga, America's debt is in trillions of dollars, not billions. W no be mates at all for anything. I'm sure if it were $17bn as u said, they would be much less worried thanu they presently are.

You are right, 18 trillion dollars is what US owes.

We keep borrowing without noticing any visible development.Nigeria na wa o

How come The last time I checked I taught that one of our Ex President almost cleared the debt if not all! Today we are ranking one of the highest debtors in the world with no corresponding dividends of democracy or social-economic development! God help and bless Nigeria! We will make it as a nation some how some day!

Fresh air till 2019

okay

[img]http://www.qservers.net/process/?aff=068[/img]
[img]http://instaforex.com?x=HOXF[/img]
our government

Billyonaire:
Nigeria's debt stands at $9.52 billion dollars and America's debit stands at $17,955,169,990,210 (approximately $US18 trillion).

We are in a much better place, we owe half of what America owes.

please carefully listen to yourself

I'ld like to know what projects the loans were used to execute.



I just wonder how many
zeros the war in the north-
east has added to the load.

interesting

GEJ till 2019


**not interested**

Thats Ok

FRESH AIR!!!!!


GEJ TILL 2015

synergycom19:

please carefully listen to yourself

tell him to use a calculator

Billyonaire:
Nigeria's debt stands at $9.52 billion dollars and America's debit stands at $17,955,169,990,210 (approximately $US18 trillion).

We are in a much better place, we owe half of what America owes.

Nonsense.

Are we half America's population
Is Nigeria half developed as America.
What do we have to show for such huge debt?

See money!

This is not good.
This (higher debt) means slower economic growth for the country compared to periods when the debt was lower.

The government will now have to devote a lot of resources to taxing people and spending money on debt service payments. Taxes will be higher than they otherwise would need to be.

This has negative implications for the citizens.

what reasonable things has FG achieved or done with the N10.84trn apart from looting the money for their selfish stomachs.

THE GOVERNMENT JUST PREPARING GROUND TO JUSTIFY FUEL AND OTHER ENERGY INCREASE.EXPECT IT AFTER ELECTING GEJ

This debt borrowed has been stolen by those in power and the tax payers bearing the burden to the tenth generation

One of the saddest lessons of history is this: If we’ve been bamboozled long enough, we tend to reject any evidence of the bamboozle. We’re no longer interested in finding out the truth. The bamboozle has captured us. It’s simply too painful to acknowledge, even to ourselves, that we’ve been taken. Once you give a charlatan power over you, you almost never get it back........Carl Sagan

Lotta things this current administration is gonna be remembered for

Not while I'm still of Nigerian citizenship. I and my family members will anonymously deliver $150000 enclosed in an envelope to the office of the president with a bold inscriptions » "to reduce national debt".

#ClownsRulingNigeriaSince the days of Judas

They won't finish clearing one debt before they go and borrow another one.

This is outrageous all this for what nw? N10.84 trillion and still no change in this country. People are still suffering & unemployed.

Shout out to them old dudes way 1 die for public office, now yu all see their reason.

[b][/b]God Bless Nigeria
And No Place Else

Front Page tins

All they do is lie.

Our Law makers earn too much, our public officers also earn too much.

Their allowances are not reasonable and we should cut them off instead of making the masses suffer by removing subsidy.

We should reduce our spending and stop the incessant borrowing at the slightest issue.

Pdp has finished this country

emmatok:


Will you shut-up

Identifying Sarcasm isn't one of your strong points