Nigeria’s Total Debt Profile Now ₦28.63trillion – NBS

Nigeria’s total debt profile has continued to increase and the National Bureau of Statistics (NBS) has revealed in its latest report that the country’s current debt stands at ₦28.63trillion.

According to the NBS, the figure represents Nigeria’s debt figure as at 31st March, 2020.

This is contained in a report on its website titled “Nigeria domestic and foreign debt first quarter 2020,” where the bureau noted that of the total figure, domestic debt accounts for ₦18. 64 trillion, representing 65.11% of the total figure.

NBS said: “Nigerian States and Federal Debt Stock data as at 31st March 2020 reflected that the country’s total public debt portfolio stood at ₦28.63trn.

“Further disaggregation of Nigeria’s total public debt showed that ₦9.99trn or 34.89% of the debt was
external while ₦18.64trn or 65.11% of the debt was domestic.

” ₦18.64trn or 65.11% of the debt was domestic.

A further breakdown shows Lagos state accounts for the largest portion of the debt owed by the 36 states of the federation and the FCT, with 10.8% of the total debt stock.