The total debt of the Federal Government, the
36 states of the federation and the Federal
Capital Territory rose from N8.32tn on
September 30, 2013 to N10.84tn on September
30, 2014.
This means that the nation’s total debt stock
rose by N2.52tn or 30.29 per cent within one
year period.
Statistics obtained from the website of the Debt
Management Office in Abuja on Monday
indicated that the N8.32tn did not include the
domestic debt of the states in 2013.
Details of the current debt status of the
country showed that the external debts of both
the federal and state governments stood at
$9.52bn or N1.48tn.
As of September 30, the domestic debt stock of
the Federal Government alone stood at
$49.12bn or N7.65tn. The domestic debt of
states, on the other hand, stood at $10.97bn or
N1.71tn.
In comparison, the external debt of both the
federal and state governments stood at
N1.28tn (or $8.26bn) as of September 30, 2013.
Also, the domestic debt of the Federal
Government a year ago stood at N7.03tn.
Dissecting the Federal Government’s current
domestic debt of N7.65tn by instruments, the
Federal Government Bond contributed N4.6tn
or 60.12 per cent to the profile; the Nigerian
Treasury Bills contributed N2.74tn 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 include Kaduna State which
owes $245.51m and Cross River State,
$120.21m. Others are Ogun $116.69m;
Bauchi, $111.61m; and Oyo, $80.11m.
The states least exposed to foreign debts are
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 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.


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

OBJ paid off the debt, GEJ accumulated more. The great questions that’s begging for answer is, what’s done with this borrowed money?

U think say na all debt them dey paid?, sometimes debtor dey die leave em