Nigeria’s External Debt Hits N11.36Trn

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SWITZERLAND, SEPTEMBER 15 – Nigeria’s external debt has risen from N10.8 trn in January 2020 to N11.36 trn in June 2020.

This is indicated in the new debt report for Q2 2020, released by the National Bureau of Statistics (NBS) on Monday.

According to the NBS report, Nigerian States and Federal Debt Stock data as at 30th June 2020 reflected that the country’s total public debt portfolio stood at N31.01trn.

Further disaggregation of Nigeria’s total public debt showed that N11.36trn or 36.65% of the debt was external while N19.65trn or 63.35% of the debt was domestic.

Total States and FCT domestic debt was put at N4.19trillion with Lagos state accounting for 11.77% of the debt stock while Yobe State has the least debt stock in this category with a contribution of 0.70%.

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