This archive report was first published on 14 July 2020.
According to data released by the National Bureau of Statistics (NBS) on July 14, 2020, Nigeria's total public debt stood at $79.303 billion as of March 31, 2020, marking a 4 percent increase from $76 billion in the fourth quarter of 2019.
The debt stock comprises the Federal Government of Nigeria, states within the Nigerian federation, and the Federal Capital Territory (FCT). The breakdown reveals that $27.666 billion was in external debts, while $51.638 billion was in domestic debt.
Further analysis shows that N9.99 trillion (34.89%) of the debt was external, while N18.64 trillion (65.11%) was domestic. The Federal Government's total domestic debt in Q1 was N14.5 trillion, with states and FCT taking up N4.11 trillion.
Lagos state has the largest debt stockpile amongst the states, holding $1.15 billion, which accounts for 10.8 percent of the total domestic debt.
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