Nigeria’s debt stock hits N33.1tr

Nigeria’s debt stock has increased to N33.11 trillion in the last three months.

The National Bureau of Statistics (NBS) disclosed this in a report titled: “Nigerian domestic and foreign debt for Quarter one, 2021 (Q1 2021),” released on Thursday.

He said the country’s external debt as at March 31 was N12.47 trillion or 37.67 percent of the total public debt while domestic debt accounted for N20.64 trillion or 62.33 percent of the whole lump.

The report said: “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 was put at N4.12 trillion.

“Lagos state accounted for 12.31 percent 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 percent to the total domestic debt stock.

“Although the domestic debt stock for 35 states and the FCT was for March 31, 2021, that of Rivers was for December 30, 2018.

“To arrive at the figures, data was supplied administratively by the Debt Management Office (DMO), while the NBS verified and validated it.”