Adebayo Obajemu

Report recently published by the National Bureau of Statistics revealed that Nigerian States and Federal Debt Stock data as of 30th September 2020 reflected that the country’s total public debt portfolio stood at N32.22 trillion.

Nigeria’s total public debt showed that N12.19trn or 37.82% of the debt was external while N20.04trn or 62.18% of the debt was domestic.

Further disaggregation of Nigeria’s foreign debt showed that $16.74bn of the debt was multilateral; $502.38m was bilateral (AFD) and another $3.26bn bilateral from the Exim Bank of China, JICA, India, and KFW while $11.17bn was commercial which are Eurobonds and Diaspora Bonds