Nigeria’s public debt rises to 32.29 trillion naira

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The country’s total debt stock, comprising the federal and state governments stood at 32.29 trillion naira as at December 31, 2020, from 32.22 trillion naira in September 30, 2020, according to the National Bureau of Statistics (NBS).

External debt totaled 12.71 trillion naira, representing 38.6 percent while the domestic component stood at 20.21 trillion naira or 61.4 percent of the debt portfolio.

According to the Nigerian Domestic and Foreign Debt report of fourth quarter of 2020, which was posted today on NBS website, total domestic debt by states and the Federal Capital Territory stood at 4.19 trillion naira, with Lagos accounting for 12.15 percent of the debt stock while Jigawa has the least debt in the category with a contribution of 0.74 percent.

Further disaggregation showed that 17.93 billion dollars of the debt was sourced from multilateral institutions while bilateral amounted to 4.06 billion dollars.

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