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Nigeria’s debt profile hits N32.22trn in 2020 Q3

According statistics just released by the National Bureau of Statistics (NBS), as at Third Quarter (Q3) 2020, Nigeria’s total debt stood at N32.22 trillion.

The NBS in its latest report titled: “Nigerian Domestic and Foreign Debt – Q3 2020,” said a breakdown of Nigeria’s foreign debt showed that $16.74billion of the debt was multilateral; $502.38 million was bilateral (AFD) and another $3.26 billion bilateral from the EximBank of China, JICA, India, and KFW while $11.17 billion was commercial which are Eurobonds and Diaspora Bonds.

NBS said:  “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 N12.19 trillion or 37.82 per cent of the debt was external while N20.04 trillion 62.18 per cent of the debt was domestic.

The document said the domestic debt stock as at September 30, 2020 was totally N13.9trillion.

Explaining further on the domestic debt stock, NBS said it consists of N812 billion Promissory Notes, representing 5.85 per cent.

Federal Government of Nigeria Bonds of N10.07 trillion represented 72.47 per cent of the domestic debt stock.

Nigerian Treasury Bills N2.4 trillion represented 19.07 per cent of the domestic debt.

Green Bonds N125 billion represented 0.18 per cent of domestic debt.

Federal Government Sukuk N200 billion represented 1.44 per cent of the domestic debt.

 

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