₦airaland Forum

Nigeria’s total public debt portfolio as at Dec. 31, 2020, stood at N32.92 trillion, the National Bureau of Statistics (NBS) reveals.

It made the revelation in its Nigerian Domestic and Foreign Debt report for Quarter Four, 2020, obtained from its website on Monday in Abuja.

It added that the debt profile was for the States and the Federal Government.

According to the bureau, Nigeria’s total public debt showed that N12.71 trillion or 38.60 per cent of the debt was external, while N20.21 trillion or 61.40 per cent of the debt was domestic.

“Further disaggregation of Nigeria’s foreign debt showed that 17.93 billion dollars of the debt was multilateral, 4.06 billion dollars was bilateral from the African Development Bank (AfDB), Exim Bank of China, Japan International Cooperation Agency (JICA), India and KFW.

“Meanwhile, 11.17 billion dollars was commercial which are Eurobonds and Diaspora Bonds and 186.70 million dollars as Promissory notes.”

The report said that the total States and Federal Capital Territory (FCT) domestic debt was put at N4.19 trillion with Lagos State accounting for 12.15 per cent of the debt stock.

It added that Jigawa had the least debt stock in this category with a contribution of 0.74 per cent.

Amotolongbo:
https://leadership.ng/fg-states-debt-profile-rise-to-n32-92trn-nbs/amp/?__twitter_impression=true

Cooldiipo:

tivity101:
Everyday debt keeps pilling up.who is going to offset this debts? I only hope Nigeria still have what it takes to repay this debts when its time to pay back. Because most of this debts where owed owing to the fact that we have oil in our land. I honestly pray that this oil do not dry up before we know it. Our children yet unborn cannot be forced into another form of slavery as a result of the debt owed by this greedy looters.

God no go shame us