The Debt Management Office, DMO, on Tuesday released Nigeria’s total public debt stock as of September 30, 2020, and put the country’s entire debt at N32.22tn ($84.57bn), indicating an increase of N1.21tn in three months.
Nigeria’s total public debt stock includes the Federal Government’s external and domestic debt stock, the 36 states, and the Federal Capital Territory.
For the country’s public debt stock as of September 30, 2020, the DMO said, “Total Public Debt Stock released by the Debt Management Office, revealed that the Total Public Debt Stock stood at N32.22tn or $84.574bn.”
A breakdown of the Public Debt Stock showed that or N12.19tn or 37.82 per cent was external, while the balance of N20.04tn or 62.18 per cent was domestic.
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Checks by BizWatchNigeria showed that the 36 state governments and the Federal Capital territory owe N4.19tn, representing 13 per cent of the total domestic debt.
Outstanding payment the country valued at $3.45bn is expected to be paid to the International Monetary Fund by the Nigerian government.
Nigeria owes World Bank’s International Development Association and International Bank for Reconstruction and Development a total of $10.74bn.
Nigerian is also indebted to African Development Bank Group to the tune of $2.54bn.
The DMO data showed that there are outstanding payments to be made to Exim Bank of China valued at $3.26bn; Agence Francaise Development $502.38m; Japan International Cooperation Agency $78.2m; Exim Bank of India $37m; Kreditanstalt Fur Wiederaufbua, Germany $193.26m.
Debts payment for Eurobonds amounted to $10.87bn and Diaspora Bond valued at $300m as of September 30, 2020.
A breakdown of the data showed that domestic debt as of December 30, 2020 was N15.85tn and were outstanding payments for FGN bonds, Nigerian treasury bills, Treasury bonds, FGN savings bond, FGN Sukuk, Green Bond and promissory notes.
The DMO data indicated that debts stock from FGN bond amounted to N11.65tn, representing 75.43 per cent of the total domestic debt.
Also, debts stock from FGN bond amounted to N11.65tn, representing 75.43 per cent of the total domestic debt.
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According to the country’s debt profile, debt from treasury bills was valued at N2.72tn, representing 17.17 per cent of the total domestic debt.
The total debt from treasury bonds was valued at N100.99bn, representing 0.64 per cent of the country’s domestic debt.
The DMO data indicated that debts stock from FGN Savings Bond amounted to N12.56bn, representing 0.08 per cent of the total domestic debt.
The debt from FGN Sukuk amounted to N362.56bn, representing 2.29 per cent of the total domestic debt stock while debt from Green Bond was N25.69bn, representing 0.16 per cent of the total domestic debt.
Debt from outstanding Promissory Notes was N971.88bn or 6.13 percent of the country’s total domestic debt.
