Nigeria’s debt stock comprising of all debt incurred at the different tiers of government, largely dominated by the Federal and State Government, have risen to N33.11 trillion as of March 31, report from the National Bureau of Statistics (NBS) reveals.
The disclosure was revealed by the National Bureau of Statistics in its recent report titled “Nigerian domestic and foreign debt for Quarter one, 2021 (Q1 2021)”.
According to the report, the breakdown of the nation’s total public debt showed that N12.47 trillion or 37.67 % of the debt was external, while N20.64 trillion or 62.33% of the debt was domestic.
The report stated that: “The Federal Government’s domestic debt stock alone was put at N16.51 trillion, while States and the Federal Capital Territory (FCT) domestic debt stock were put at N4.12 trillion.
“Lagos state accounted for 12.31 per cent of the total domestic debt stock with N507.3 billion, while Jigawa State, with N31.7 billion, has the least debt stock in this category with a contribution of 0.77 per cent to the total domestic debt stock”, the report said.
Explaining how it arrived at the recent figures, the National Bureau of Statistics explained that the data was supplied administratively by the Debt Management Office (DMO), while the NBS verified and validated it, the report said
