25 Jun FG, states owe N33.11trn in external, domestic debts in Q1
The Federal and State governments owe N33.11 trillion in public debts, as of March 31, according to latest figures released by the National Bureau of Statistics (NBS).
The NBS stated this in its data on Nigerian domestic and foreign debt for Quarter one, 2021 (Q1 2021), explaining that upon disaggregation, Nigeria’s total public debt indicated that N12.47 trillion or 37.67 per cent of the debt was external, while N20.64 trillion or 62.33 per cent of the debt was domestic.
“The Federal Government’s domestic debt stock alone was put at N16.51 trillion, while states and the Federal Capital Territory (FCT) domestic debt stock was put at N4.12 trillion.
“Lagos state accounted for 12.31 per cent of the total domestic debt stock with N507.3 billion, while Jigawa State, with N31.7 billion, has the least debt stock in this category with a contribution of 0.77 per cent to the total domestic debt stock”, the report said.
Although the domestic debt stock for 35 states and the FCT were as at March 31, 2021, that of Rivers dates back to December 30, 2018.
The data was first was supplied administratively by the Debt Management Office (DMO), while the NBS verified and validated it, the report said
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