Lagos State Has The Highest Debt Profile in 2018 - NBS

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Tuesday, April 09 2019  09:00 PM / NBS

 

Nigerian States and Federal Debt Stock data as at 31st December 2018 reflected that the country's foreign and domestic debts stood at $25.27bn and N16.63trn respectively. 

Further disaggregation of Nigeria's foreign debt showed that $11.01bn of the debt was multilateral; $344.63m was bilateral (AFD) and another $2.75bn bilateral from the Exim Bank of China, JICA, India and KFW while $11.17bn was commercial which are basically Eurobonds and Diaspora Bonds. 

Lagos State has the highest foreign debt profile among the thirty-six states and the FCT accounting for 5.64% while Edo (1.09%), Kaduna (.0.90%) and Cross River (0.75%) followed closely. 

Similarly, total domestic debt was N16.63 trillion with Lagos state accounting for 3.19% of the total domestic debt stock while Yobe State has the least debt stock in this category with a contribution of 0.17% to the total domestic debt stock.

 

Click Here to Download 2018 Nigerian Domestic and Foreign Debt PDF Report

 

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