Prof. Yemi Kale, head, NBS

OBINNA EZUGWU

Latest figures from the National Bureau of Statistics (NBS) show that Nigeria’s total debt portfolio stands at N28.63trillion as at 31st March, 2020.

The NBS which disclosed this in the report titled: “Nigeria domestic and foreign debt first quarter 2020,” said in the period under review, the country’ domestic debt got to N18. 64 trillion, representing 65.11 percent of the entire debt profile.

According to the report, “Nigerian States and Federal Debt Stock data as at 31st March 2020 reflected that the country’s total public debt portfolio stood at N28.63trn.

“Further disaggregation of Nigeria’s total public debt showed that N9.99trn or 34.89% of the debt was external while N18.64trn or 65.11% of the debt was domestic.

“N18.64trn or 65.11% of the debt was domestic. Nigerian States and Federal Debt Stock data as at 31st March 2020 reflected that the country’s total public debt portfolio stood at N28.63trn.”

The report said States and FCT domestic debt was put at N4.11trillion with Lagos state accounting for 10.8 per cent of the total domestic debt stock while Yobe State has the least debt stock in this category with a contribution of 0.7 per cent.