FG’s External Debt, States’ Debt Profile on the Rise  Lagos Leads with $1.087bn

The external debt profile of states has shown that Lagos State has the highest with a profile of $1.087 billion, followed by Kaduna State with a total of $234 million.
Cross River State followed closely with an external debt profile of $131.469 million. Other states with relatively large external debt are Edo $123 million, Ogun $109 million, Bauchi $87million, Enugu $62 million, Katsina $78 million, Osun $67 million and Oyo State $72 million. Federal Government’s domestic debt on the other hand stood at $47.05 billion or N7.9 trillion, while those of the states stood at $10.97 billion or N1.708 trillion. Federal Government’s domestic debt is made up of N4.792 trillion bonds, N2.815 trillion Treasury bills and N296.2 billion treasury bonds. According to figures published by the Debt Management Office in Abuja, the total debt stock of the Federal Government and the 36 states of the federation including the Federal Capital Territory amounted to N11.243 trillion or $67.726 billion.

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