The National Bureau of Statistics (NBS) in its latest report released on Thursday, June 24, revealed that Nigeria’s debt profile hit N33.11 trillion as at March, 2021.
According to the NBS, N12.47 trillion, representing 37.67 per cent of the debt was external while 20.64 trillion, representing 62.33 per cent was domestic.
In the report titled “Domestic and Foreign Debt (Q1 2021)”, the NBS noted that in the period under review, states and Federal Debt Stock data as at March 31, 2021 reflected that the nation’s total
public debt profile stood at N33.11 trillion.
“Further disaggregation of Nigeria’s total public debt showed that N12.47 trillion or 37.67% of the debt was external while 20.64trn or 62.33% of the debt was domestic”.
It added that Federal Government only domestic debt stock was put at N16.51 while states and FCT domestic debt stock was put at N4.12 trillion with Lagos State accounting for 12.31% of the total domestic debt stock while Jigawa State has the least debt stock in this category with a contribution of 0.77% to the total domestic debt stock.
The NBS noted that the Domestic Debt Data Report was generated from the signed-off submissions received from the states and the FCT.
It stated that Domestic Debt Stock for Rivers State was as at December 30, 2018 while the other 35 states and the FCT was as at March 31, 2021.