Nigeria’s foreign debt up by 40% under Buhari — NBS

September 19, 2017
Bassey Udo

Nigeria’s total domestic and foreign debt stocks as at June 30 stood at about $15.1 billion and N14.1 trillion respectively, the National Bureau of Statistics said on Tuesday.

A review of the total foreign debt profile of the Federal and the 36 states governments and the FCT also shows a continuous rise since the coming of the present administration, from $10.718 billion in 2015, to $11.406 billion in 2016 and $15.047 billion in 2017.

Out of the current total figure of $15.047 billion, the Federal Government accounts for $11.106 billion, or about 74 per cent, while the 36 states of the federation and the Federal Capital Territory, FCT, Abuja owe about $3.94 billion, or 26 per cent.

The Federal and State government shares of the debt stock grew from $7.349 billion and $3.369 billion in 2015, to $7.84 billion and $3.568 billion in 2016, and $3.94 billion and $11.106 billion in 2017 respectively.

The NBS gave further disaggregation of the country’s foreign debt to include $9.67billion as multilateral debt; $218.25million as bilateral (AFD) and $5.15billion from the Exim Bank of China credit to the Federal Government.

Details of the debt figures show that the domestic debts figures of the 36 states of the federation and the FCT have continued to grow since 2015 under the present administration.

From about N2.503 trillion in 2015, the NBS data showed the figure rose to N2.959 trillion in 2016 before reaching the latest point of N3.001 trillion in 2017.

According to the statistics agency, out of the total N14.017 trillion national debt stock, the Federal Government accounts for about N11.058 trillion, or 78.66 per cent, against about N2.959 trillion, or 21.34 per cent by all the states and the FCT.

Further breakdown of the Federal Government domestic debt stock by instruments show that about N7.56 trillion, or 68.41 per cent were in bonds; N3.28 trillion, or 29.64 per cent in treasury bills, while N215.99 million, or 1.95 per cent went into treasury bonds.

Although the NBS did not provide the Federal Government domestic debt figures for 2015, figures obtained from the Debt Management Office, DMO, website on Tuesday showed that total domestic debt by instruments as at December 2015 stood at N8.836 trillion.

This consisted Federal Government bonds N5.808 trillion, or 65.73 per cent; Nigerian treasury bills N2.773 trillion, or 31.38 per cent, and treasury bonds of N255.99 billion, or 2.90 per cent.

Among the 36 states and the FCT, Lagos recorded the highest foreign debt profile, accounting for about 37 per cent of the states’ foreign debts, followed by Kaduna (six per cent), Edo (five percent), Cross River (four percent) and Ogun (three percent).

On the domestic front, Lagos State again took the lead, with the highest domestic debt profile among its colleagues and the FCT, accounting for about 10.39 per cent of the total figure, followed by Delta (8.04 per cent), Awa Ibom (5,18 per cent), FCT (5.09 per cent) and Osun (4.90 per cent).


https://www.premiumtimesng.com/news/headlines/243644-nigerias-foreign-debt-40-buhari-nbs.html

40 gbi! Chai, Buhari is tightening the noose even harder.

let's Save our country from Short sighted evil leaders.

Zombies ya heard?

THEY SAID THE PROJECTS ARE TOO BIG THAT WE CANT SEE THEM

The debt is not even the issue. It's our ability to pay back this debt and the projects that are completed with these debts.

7.3billion to 7.9 billion, how is that 40% oga.

Buhari don finish Nigeria

immhotep come and see ooooo

On the domestic front, Lagos State again took the
lead, with the highest domestic debt profile
among its colleagues and the FCT, accounting for
about 10.39 per cent of the total figure, followed
by Delta (8.04 per cent), Awa Ibom (5,18 per
cent), FCT (5.09 per cent) and Osun (4.90 per
cent).

What has the bolded done with the money owed, can someone reasonable give a reasonable answer?

That is why nothing should be expected from anyone that wins the election tomorrow. Nothing will work in the state in the next 8years.

EternalTruths:
immhotep come and see ooooo

All they do nowadays is to forge certificates and embezzle loans.


Cc lzaa onyeoga pointzerom madridguy buhariguy sarrki shalomc iceberg3 yarimo greenback Alariiwo Roger3d cynthiakiss omenka tossie101 juliusmalema

According to zombies, Bugatti is always right....Mr integrity. They claim to recover stolen money, were are all the money?

eph12:
The debt is not even the issue. It's our ability to pay back this debt and the projects that are completed with these debts.

na oyel moni deh won use pay am na

eph12:
The debt is not even the issue. It's our ability to pay back this debt and the projects that are completed with these debts.

na oyel moni deh won use pay am na,abi u no know?

eph12:
The debt is not even the issue. It's our ability to pay back this debt and the projects that are completed with these debts.

na nija delta oyel moni deh won use pay am na,abi u no know?

Just imagine who yoruba moslems made their allah.

Even in the next 30 years, I don't think we can pay all these debts.
Where is our future as young people?
Nigeria is doomed under this brainless dullard...

Another stupid lie and Voodoo arithmetic. Premium Times is really working for PDP her paymaster.

Meanwhile, I can't find where 40% jump in debt reported here come from.

However I know for sure that in December 2014 Nigeria debt was $67bill. So if it's now$15bill and foreign reserve has gone up by more than$15bill. Technically this government have managed our resources better even with not so impressive crude price than the looters of yesteryears.

https://www.vanguardngr.com/2015/07/n12trn

Another abysmal statistics again under the APC government.Meanwhile what were these monies used for? When is Nigeria going to pay these debts

Sai Barber.... Barbing our future

einst3in:
7.3billion to 7.9 billion, how is that 40% oga.

So from over 7billion to 11billion is how many % uncle?

Chai, Buhari government no try at all

Despite calling fuel subsidy a scam, the government is now paying the same subsidy after increasing fuel price to N145 and crude price still less than $80

Okonjo Iweala took Nigeria out of debt, Buhari put us back in there. Which govt is better. The then govt or this one that has no clue.

Nigerians are very foolish.

newinventions:
Okonjo Iweala took Nigeria out of debt, Buhari put us back in there. Which govt is better. The then govt or this one that has no clue.

Nigerians are very foolish.

Yes Okonjo paid $32bill to clear our debt during Obj era. She came back during Gej era to push us into deeper debt of about$70bill even while oil was selling@ above $100.

She totally depleted our foreign reserve from $43bill to $28bill.

A great minister indeed who supervised the savage looting of our treasury.

Racoon:


As at June 30, 2018, Nigeria’s total debt profile, according to the Debt Management Office (DMO) had risen to $73.21 billion or N22.38 trillion.
https://www.thecable.ng/amina-mohammed-okonjo-iweala-got-nigeria-debt-now-back

So if Nigeria debt was $67bill in 2014 and have risen now to $73bill so where is the 40% coming from or you think everyone is a spare parts or gala seller.

https://www.vanguardngr.com/2015/07/n12trn