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Nigeria’s total debt stock hits N28.63trn in Q1,2020

Nigerian states and Federal Government recorded a total debt stock of N28.63 trillion in the first quarter of 2020, representing a 4.44 percent increase from N27.40 trillion recorded in Q4,2019, data from the National Bureau of Statistics show.

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According to the public debt stock data report released on Friday, a disaggregation of Nigeria’s total public debt showed that N9.99 trillion representing 34.89 percent of the debt was external while N18.64 trillion (65.11 percent) was domestic debt.

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

Federal Government domestic debt stood at N14.53 trillion during the period.

According to the report, the debt instruments for the period include FGN Bond at N10.55 trillion, FGN savings bond at N14.40 billion, FGN Sukuk at N200 billion, Green Bond at N25.69 billion, Nigeria Treasury bill at N2.65 trillion, Nigeria Treasury bond at N125 .98 billion, and promissory note at N957.19 billion.

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