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Nigeria’s debt stock rises to N32.22trn ― NBS
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By Emmanuel Elebeke
The National Bureau of Statistics, NBS, says Nigeria’s total foreign and domestic debt stood at N32.22trn in the Q3 of 2020.
The bureau in its Nigerian Domestic and Foreign Debt for Q3 2020 published on its website said Nigerian States and Federal Debt Stock data as of 30th September 2020 reflected that the country’s total public debt portfolio stood at N32.22trn in the Q3 of 2020.
The survey indicates that Nigeria’s total public debt showed that N12.19trn or 37.82% of the debt was external, while N20.04trn or 62.18% of the debt was domestic.
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Nigeria’s total public debt as at September 2020 stood at ₦32.223 trillion or $84.574 billion according to statistics released on Thursday by Debt Management Office (DMO).
Total public debt is owed by federal and sub-national governments put together.
A break down of the stock showed that 37.82per cent was external, while the balance of 62.18 per cent was domestic.
The figures showed an increase of ₦1.214 trillion when compared to the total public debt stock of N31.009 trillion as at June 30, 2020.
The corresponding figures for March 31, 2020, were ₦28.628 trillion or USD79.303 billion.
“FGN, state governments and FCT all recorded increases in their debt stock due to borrowings to enable them to respond appropriately to the COVID-19 pandemic and to meet revenue shortfalls.