Business Economy

FG, States total debt rises to N33 trillion in Q1 2021 – NBS

The National Bureau of Statistics (NBS) disclosed that Nigeria’s total debt between the federal government and states rose to the sum of N33.11 trillion as of March 31st, 2021.

The NBS disclosed this in a report on Thursday in its “Nigerian Domestic and foreign debt for Quarter one, 2021 (Q1 2021)” report, adding that N12.47 trillion or 37.67% of the debt was external, while N20.64 trillion or 62.33% of the debt was domestic.

Compiling data from the Debt Management Office (DMO) and verified by the NBS, they said:

“The Federal Government’s domestic debt stock alone was put at N16.51 trillion, while States and the Federal Capital Territory (FCT) domestic debt stock was put at N4.12 trillion.

Lagos state accounted for 12.31% of the total domestic debt stock with N507.3 billion, while Jigawa State, with N31.7 billion, has the least debt stock in this category with a contribution of 0.77% to the total domestic debt stock.”

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