Nigeria’s public debts hit N32.92tr

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The National Bureau of Statistics (NBS) yesterday said states and federal debts were N32.92 trillion as at December 2020.

Its data entitled: “Nigerian Domestic and Foreign Debt (Q4 2020)” pasted on its website, said while N12.71 trillion external, representing 38.60 per cent of the total stock, N20.21 trillion, representing 61.40 per cent domestic.

NBS said: “Nigerian states and federal stock data as of 31st December 2020 reflected that the country’s total public debt portfolio stood at N32.92trillion.

“Nigeria’s total public showed that N12.71trillion or 38.60 per cent of the debt external while N20.21trillion or 61.40 per cent of the debt was domestic.”

The data explained that further disaggregation of the country’s foreign showed that $17.93billion of the debt multilateral; $4.06billion was bilateral from the AFD, EximBank of China, JICA, India, and KFW while $11.17billion was commercial which are Eurobonds and Diaspora Bonds and $186.70 as promissory notes.

According to NBS, the total states and Federal Capital Territory (FCT) domestic was put at N4.19trillion with accounting for 12.15 per cent of the debt stock while Jigawa has the least debt stock in this category with a contribution of 0.74 per cent.