Nigerian States and Federal Debt Stock data as at 31st December 2017 reflected that the country foreign and domestic debts stood at $18.9bn and N3.35trn respectively.

Further disaggregation of Nigeria foreign debt showed that $10.24bn of the debt was multilateral; $274.98m was bilateral (AFD) and $2.09bn from the Exim Bank of China credited to the Federal Government of Nigeria (FGN) while $6.30bn was commercial.
Total FGN debt accounted for 78.23% of Nigeria total foreign debt while all States and the Federal Capital Territory (FCT) accounted for the remaining 21.77%.

Lagos State has the highest foreign debt profile among the thirty-six states and the FCT accounting for 35.61% while Kaduna (5.79%), Edo (5.64%), Cross River (4.08%) and Enugu (3.23%) followed closely.Similarly, total state domestic debt was N3.35 trillion with Lagos state accounting for 10.85 % of the total domestic debt stock while Sokoto has the least debt in this category with a contribution 0.78% to the total domestic debt stock.

Data source: National Bureau of Statistics

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