2018: Lagos has highest foreign debt profile, Yobe lowest —NBS

2018: Lagos has highest foreign debt profile, Yobe lowest —NBS

The National Bureau of Statistics said Nigeria ’s foreign debt stood at 25 . 27 billion US dollars as at 31 December , 2018. The NBS said this in “ Nigerian Domestic and Foreign Debt data ” for 2018 fourth quarter posted on its website . The bureau said further disaggregation of Nigeria ’s foreign

The National Bureau of Statistics said Nigeria ’s foreign debt stood at 25 . 27 billion US dollars as at 31 December , 2018.
The NBS said this in “ Nigerian Domestic and Foreign Debt data ” for 2018 fourth quarter posted on its website .
The bureau said further disaggregation of Nigeria ’s foreign debt showed that 11 . 01 billion dollars of the debt was multilateral .
It said that 34 . 63 million dollars was bilateral from Agence Francaise de Development and another 2. 75 billion dollars bilateral from the Chinese Exim Bank , Japanese International Cooperation Agency, KFW Development Bank and India .
In addition , the report said 11 . 17 billion dollars were basically Eurobonds and Diaspora Bonds.

According to the report, Lagos State has the highest foreign debt profile among the 36 states and the FCT , accounting for 5 . 64 per cent .
It said Edo State has the second highest debt, accounting for 1 . 09 per cent , followed by Kaduna State (0 . 90 per cent ) and Cross River State with 0. 75 per cent .
Similarly, the bureau said total domestic debt was N 16 . 63 trillion in the quarter under review.
It said Lagos State accounted for 3 . 19 per cent of the total domestic debt stock while Yobe State had the least debt stock in this category with a contribution of 0. 17 per cent to the total domestic debt stock .
The data for the report was supplied administratively by the Debt Management Office, verified and validated by the NBS .

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