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Nigeria’s debt hits N28.63 trillion —NBS

The National Bureau of Statistics (NBS) said on Friday the total public debt portfolio of the Federal and State governments stood at N28.63 trillion as at March 31.

The NBS stated this in its Nigerian domestic and foreign debt report released in Abuja.

The bureau said further disaggregation of Nigeria’s total public debt showed that N9.99 trillion which represented 34.89 percent was external.

It added that the domestic debt was N18.64 trillion which represented 65.11 percent of the total debt.

READ ALSO: Nigeria’s debt stock now N26. 2tr – DMO

According to the NBS, Lagos accounted for 10.8 percent of the total domestic debt stock in the country.

“States and Federal Capital Territory domestic debt was put at N4.11 trillion with Lagos State accounting for 10.8 percent of the total domestic debt stock.

“Yobe State has the least debt stock in this category with a contribution of 0.7 percent.”

Ronald Adamolekun

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Ronald Adamolekun

Ronald Adamolekun is a creative writer with a mixed bag of experience in fields as diverse as data journalism, financial reporting and editing.

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