Lagos Enlisted Has The Highest Foreign Debt - Among 36 States
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Lagos Enlisted Has The Highest Foreign Debt – Among 36 States

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foreign debt

The National Bureau of Statistics, NBS revealed on their portal that the Nigeria concurrent foreign debt was estimated to be 25.27 billion US dollars and N16.63trn total domestic debt.

 

The report further report that among 36 states in Nigeria, Lagos State has the highest foreign debt followed by the Federal Capital Territory, FCT, and states like Edo, Kaduna, and Cross River.

 

Below are the percentage of foreign debt owed by each state:

FCT 5.64 percentage, Edo 1.09 percentage, Kaduna 0.90 percentage, and Cross River 0.75 percentage.

Lagos State has 3.19 percentage of the total domestic debt while Yobe State has 0.17 percentage of the total domestic debt stock and which has been the least.

 

As captioned by NIGERIA NEWS, ” Nigeria foreign debt showed that $11.01bn of the debt was multilateral; $344.63m was bilateral (AFD) and another $2.75bn bilateral from the Exim Bank of China, JICA, India and KFW while $11.17bn was commercial which are basically Eurobonds and Diaspora Bonds.”

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