National News

Nigeria’s Debt Hit N33.11 Trillion — NBS

According to the latest numbers issued by the National Bureau of Statistics (NBS) on Thursday, the Federal and State governments owed N33.11 trillion in public debts as of March 31.

The NBS stated this in its “Nigerian domestic and foreign debt for Quarter one, 2021 (Q1 2021)” report, adding that when the nation’s total public debt was disaggregated, the external debt accounted for N12.47 trillion, or 37.67 percent, while the domestic debt accounted for N20.64 trillion, or 62.33 percent.

“The Federal Government’s domestic debt stock alone was put at N16.51 trillion, while States and the Federal Capital Territory (FCT) domestic debt stock was put at N4.12 trillion.

“Lagos state accounted for 12.31 per cent of the total domestic debt stock with N507.3 billion, while Jigawa State, with N31.7 billion, has the least debt stock in this category with a contribution of 0.77 per cent to the total domestic debt stock”, the report said.

Despite the fact that the domestic debt stock of 35 states and the FCT was as of March 31, 2021, Rivers’ was as of December 30, 2018.

The Debt Management Office (DMO) provided administrative data for the statistics, which the NBS examined and certified, according to the report.


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