Nigeria’s total public debt* reached NGN12.12trn ($63.81bn) at the end of June, up 0.5% from end-March, data from the country’s Debt Management Office (DMO) showed. The debt stock was equal to 12.7% of GDP, according to bne IntelliNews calculations.
The federal government’s domestic debt shrank 1.3% during the second quarter of the year to NGN8.4trn (8.8% of GDP), whereas the domestic debt stock of the 36 states and the Federal Capital Territory (FCT) remained largely unchanged at NGN1.69trn (1.8% of GDP).
On the other hand, the combined foreign debt of the government and the states expanded by 9.1% q/q to $10.32bn (2.1% of GDP) at end-June.
In the structure of the federal government’s domestic debt stock as of end-June, federal government (FGN) bonds accounted for 63.1%, T-bills made up 33.6%, and T-bonds made up 3.2%.
In the structure of the external debt, multilateral loans accounted for 70.1%, bilateral loans (mainly from China’s Exim Bank) made up 15.4%, and the country’s $1.5bn Eurobond accounted for 14.5%.
* includes the domestic and external debt of the federal government and the states
The Nigerian government is poised to greenlight ExxonMobil's $1.28bn asset sale to Seplat Energy within the next two weeks, pending resolution on critical issues related to decommissioning and host ... more
Atlantic Lithium Ltd., an African-focused lithium exploration and development company targeting to deliver Ghana's first lithium mine, has been approved to list on the Ghana Stock Exchange (GSE), ... more
Russian uncut diamond major Alrosa will have to sell its stake in Angola's Catoca diamond mining company owing to the latter's concerns about the prospects for collaborating with the sanctioned ... more