As at the end of the first quarter of 2019, Nigeria’s public debt portfolio stood at N24.95trn ($81.27bn). This was contained in a recently released data by the Debt Management Office. The country’s external component of the debt stood at N7.86trn ($25.61bn), while domestic debt stood at N17.09trn ($55.66bn).
The domestic debt accounted for 68.49% of the total debt. This is a 2.77% increase when compared to the $54.16bn (N16.63trn) of the previous quarter.
The total debt figures indicate an increase of 2.29% when compared to Q4 2018 when the total public debt stood at N24.39trn ($79.44bn).
It’s worth noting that the bulk of the domestic debts originated from the Federal Government with the FG accounting for 76.75% of the total domestic debts.