Nigeria’s total public debt* reached NGN12.06trn at the end of March, up 7.3% from end-2014, data from the country’s Debt Management Office (DMO) showed. In dollar terms, the debt stock fell 6.2% during the period to $63.51bn, reflecting the depreciation of the local naira currency.
The federal government’s domestic debt grew 7.6% between January and March to NGN8.51trn ($43.2bn), whereas the domestic debt stock of the 36 states and the Federal Capital Territory (FCT) fell 1.1% to NGN1.69trn.
The combined foreign debt of the government and the states narrowed 2.5% ytd to $9.46bn at end-March.
In the structure of the federal government’s domestic debt stock as of end-March, federal government bonds accounted for 63.1%, T-bills made up 33.7%, and T-bonds made up 3.2%.
In the structure of the external debt, multilateral loans accounted for 69.1%, bilateral loans (mainly from China’s Exim Bank) made up 15.1%, and the country’s $1.5bn Eurobond accounted for 15.9%.
* includes the domestic and external debt of the federal government and the states
Related Articles
South African holding Naspers' 5-for-1 share split takes effect October 6, targeting wider retail base on JSE
Naspers, a South African multinational holding company and technology investor listed on the JSE, will implement a five-for-one share split in October, reducing the nominal price of its stock to make ... more
Ghana recovers $820,000 in salary paid to public service "ghost workers"
Ghana’s Auditor-General has clawed back GHS10mn ($820,000) in unearned salaries from public servants who continued to draw pay long after leaving their jobs, in a crackdown on “ghost workers” ... more
Ghana sets legal path for carbon market projects amid global climate push
Ghana has adopted a legal framework to participate in carbon market projects, a move officials say will unlock billions in investment and position the West African nation as a key player in global ... more
Most Read
-
Renewable capacity growth is faster than ever, but more acceleration needed to meet Paris 2030 goal, says IEA
1 year ago
-
Kyrgyzstan abandons attempt to rescue Russian climber trapped on icy summit of country’s highest mountain
22 days ago
-
BERTRAND: China after Communism, preparing for a post-CCP China
1 month ago
-
Hungarian economy faces weak growth, slow path to price stability, central bank report shows
2 months ago
-
UKRAINE REMONT: The battle to build: signs of recovery in Ukraine's construction industry
5 months ago