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| Credit: NBS, Infoprations, 2018 |
A report, on the Debt Profiles
of Federal Government, States and Federal Capital Territory from the National
Bureau of Statistics, shows that the total debts stood at $22.08 billion for the
foreign category while local debts was N3.48 trillion as at 30th June, 2018.
The report indicates that “$10.88bn
of the debt was multilateral $274.98m was bilateral (AFD) and another $2.12bn
bilateral from the Exim Bank of China, JICA, India and KFW while $8.80bn was
commercial.” 80.76% of the foreign debts were owed by the Federal
Government while the states and FCT owed 19.24% of the debts.
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| Credit: NBS, Infoprations, 2018 |
“Lagos State
has the highest foreign debt profile among the thirty-six states and the FCT
accounting for 34.17% while Edo (6.57%), Kaduna (5.48%), Cross River (4.56%)
and Bauchi (3.18%) followed closely. Similarly, total domestic debt was N3.48
trillion with Lagos state accounting for 14.88 % of the total domestic debt
stock while Anambra State has the least debt in this category with a
contribution 0.08% to the total domestic debt stock,” the notes.
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