Nigeria’s foreign debt stands at $22.08bn, local N3.48trn
The bureau’s “Nigerian Domestic and Foreign Debt’’ Q2 2018 report released in Abuja, said the country’s domestic debt stood at N3.48trillion
___8886280___2018___9___21___17___National-Bureau-of-Statistics
Recommended articles
![Aliko Dangote and Tinubu [NAN]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'100'%20height%3D'100'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "Aliko Dangote and Tinubu [NAN]")
The bureau’s “Nigerian Domestic and Foreign Debt’’ Q2 2018 report released in Abuja, said the country’s domestic debt stood at N3.48trillion.
According to the bureau, further disaggregation of Nigeria’s foreign debt shows that 10.88billion dollars of the debt is multilateral and 274.98million dollars is bilateral.
Multilateral debts are debts owed by developing countries to the World Bank and IMF, known as the Bretton Woods Institutions while bilateral debt is a simple loan arrangement between a single borrower and a single lender.
ADVERTISEMENT
It said: “There is another 2.12billion dollar bilateral from the Exim Bank of China, Japan International Cooperation Agency, India and KfW bank while 8.80billion dollar is commercial."
The bureau said Lagos State had the highest foreign debt profile among the 36 states and the FCT accounting for 34.17 per cent.
It said Edo had 6.57 per cent; Kaduna 5.48 per cent; Cross River 4.56 per cent and Bauchi followed closely with 3.18 per cent.
“Similarly, total domestic debt was N3.48 trillion with Lagos state accounting for 14.88 per cent of the total domestic debt stock.
“While Anambra State has the least debt in this category with a contribution of 0.08 per cent. "
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Comparing comprehensive vs third-party auto insurance in Nigeria
Kaduna Speaker to El-Rufai's son: Your threat won't stop us from probing your father
Makinde demolishes building where Yoruba Nation agitators operate from
APC chieftain, Lukman faults NWC for backing Ganduje over suspension
EFCC gets permission to drag ex-governor Yahaya Bello to court tomorrow
Court stops EFCC from arresting Yahaya Bello hours after agents surrounded his house
Tinubu hails Dangote's diesel price cut, expects economic boost
'Is this relevant?' - Nigerians react as Gov Adeleke signs bill for new Osun State logo
Why donated blood is not free for patients
Pulse Sports
Lionel Messi's son breaks the internet after scoring five goals for Inter Miami
Naija Stars Abroad: Onyedika, Boniface, and Osimhen shine across Europe
Victor Osimhen and Tobi Amusan make list of Forbes’ 30 under 30 Class of 2024
ADVERTISEMENT
![Nigerians in diaspora are urged to be patriotic toward the nation [Jenny M.C.]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'300'%20height%3D'172'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "Nigerians in diaspora are urged to be patriotic toward the nation [Jenny M.C.]")