Nigeria’s Public Debt Stock Hits N28.63tn - THISDAYLIVE

Nigeria’s total public debt portfolio, all the states and the federal government inclusive, stood at N28.63 trillion as at March 31 this year.

External debt accounted for N9.99 trillion or 34.89 per cent of the total debt. The domestic component stood at N18.64 trillion or 65.11 per cent of total borrowing. Federal government’s domestic debt service for Q1 also increased to N609.13 billion compared to N254.04 billion in Q4 of 2019. Yobe was adjusted to have the least debt domestic stock, accounting for N29.29 billion or 0.7 per cent of total debt.Debts from multilateral institutions totaled $12.65 billion or 45.75 per cent of total foreign debt while bilateral debt amounted to $3.84 billion or 13.89 per cent of total external borrowing as well as commercial debts which stood at $11.16 billion or 40.37 per cent of total foreign debts.

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