FG, States owe N28.63trn – NBS

…Federal Government owes N9.99 trillion externally

The National Bureau of Statistics (NBS) said on Friday that the total public debt portfolio of the Federal and State Governments as of March 31 stood at N28.63 trillion, reawakening the fear that debt servicing would soon drain stupendous sum capable of affecting other strategic visions.

The NBS made this known in its Nigerian domestic and foreign debt report released in Abuja.

The bureau said that further disaggregation of Nigeria’s total public debt showed that N9.99 trillion which represented 34.89 per cent was external.

It stated that the domestic debt was N18.64 trillion which represented 65.11 per cent of the total debt.

“States and Federal Capital Territory domestic debt was put at N4.11 trillion with Lagos State accounting for 10.8 per cent of the total domestic debt stock.

“Yobe State has the least debt stock in this category with a contribution of 0.7 per cent” the NBS stated.