WED, APRIL 10 2019-theG&BJournal- 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, the National Bureau of Statistics (NBS) said in its latest data release.
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.
Nigerian States and Federal Debt Stock data as at 31st December 2018 reflected that the country foreign and domestic debts stood at $25.27bn and N16.63trn respectively.
According to the NBS, further disaggregation of Nigeria 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.
The NBS noted that Domestic Debt Stock for 31 States + FCT was as at March 31, 2018, while Domestic Debt Stock for 5 States- Anambra, Gombe, Katsina, Rivers and Zamfara) was as at December 31, 2017.
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